OpenSea surpasses $3.5B in monthly Ether trading volume setting new ATH

The rate increase in Bored Ape Yacht Club and its sibling collections Mutant Ape Yacht Club and Bored Ape Kennel Club (BAYC), appears to have fueled the boost in NFT trade volume. BAYC is still incredibly popular with celeb owners. It has 14,306 Ethereum (roughly $47 Million in market price) and was traded over the previous 24 hours.

OpenSea has actually announced a $300 million Series C funding round, which was led by Paradigm Venture Capital and Coatue. This brand-new money increased the firms worth to $13.3 billion. It will be utilized for item development and staff member recruitment.

OpenSea, a nonfungible token (NFT), marketplace, has gone beyond $3.5 billion in monthly Ether trade volume for the very first time ever.

Dune Analytics data shows that OpenSea now goes beyond the $3.42 billion record set in August 2021. This brand-new all-time record also exceeds the $3.5 billion Ether trading volume mark.

According to Dune Analytics, OpenSea had $261 million in record volume on Sunday. OpenSeas daily trading volume has gone beyond $169 million up until now in January.

Related: NFT sales and blockchain video gaming continue to grow despite recent market slump: Report

OpenSea is rapidly being taken over by brand-new gamers. One significant rival is LooksRare, a brand-new NFT market that was introduced previously in the month and is exceeding OpenSea in terms trading volumes according to Dune Analytics data. Early reports indicate that the platform is overflowing with wash trading to rig a token-based benefits system.

OpenSea has announced a $300 million Series C funding round, which was led by Paradigm Venture Capital and Coatue. OpenSea is quickly being taken over by new players. One notable competitor is LooksRare, a new NFT marketplace that was released previously in the month and is surpassing OpenSea in terms trading volumes according to Dune Analytics information.

Sultan Gustaf Al Ghozali (22-year-old computer technology student in Semarang, Indonesia) ended up being a millionaire through the conversion of 1,000 selfies into NFTs, and then offering them on Opensea.
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