NFT Heavyweight Opensea Hits $1 Billion in Trading Volume in August

NFT Heavyweight Opensea Hits $1 Billion in Trading Volume in August

Devin Finzer, CEO and co-founder of OpenSea, a mainstream marketplace for non-fungible tokens, shares the statistics of its jaw-dropping trading volume in August.

$1 billion for the segment leader

According to the latest announcement shared by Mr. Finzer in his Twitter account, his Ethereum-based marketplace OpenSea registered a record-breaking trading volume of $1 billion in August.

OpenSea just hit $1B in trading volume for the month of August so far.And it's still day 0 for NFTs.— Devin Finzer (dfinzer.eth) (@dfinzer) August 17, 2021

He admitted that, despite this massive accomplishment, NFT markets are still taking their first baby steps.

According to data shared by DappRadar analytical platform, Aug. 14, 2021 was a record-breaking trading day for OpenSea. Almost 25,000 users authorized 79,800 transactions with a net value over $75 million.

In the past 30 days, OpenSea processed $1.24 billion in trading volume, witnessing an eye-watering increase of 935.4% compared to the previous period.

NFTs are on fire again

In July, OpenSea secured $100 million in funding led by top-notch VC Andreessen Horowitz; its valuation rocketed to $1.5 billion.

Interest in non-fungible tokens started making headlines again. Price rallies of the tokens of the top NFT-centric projects reflect this trend perfectly.

For instance, AXS coin of Axie Infinity gamified metaverse spiked from $18.7 to $73 in less than three weeks.