Blur NFT Transactions Dominates Market Share with 77%

02/20/2023 03:14 • Blockchain Buzz • 185 views

It is reported that according to the data compiled by user @ hildoby in Dune, the market share of Blur transactions in the NFT market in the past week exceeded 77%, with a total transaction amount of about 390 million US dollars, accounting for more than 50% of the total number of transactions, totaling 275479. In contrast, OpenSea accounted for 16.7% and 40.8% respectively. However, in terms of the number of trading addresses, the number of OpenSea is much higher than that of Blur.

In the past week, the market share of Blur trading volume exceeded 77% and the number of transactions exceeded 50%

Interpret the above information:

According to the report from user @hildoby, the Blur transactions in the NFT market have soared in popularity in the past week, taking over 77% of the market share. The total transaction amount of Blur NFTs reached around $390 million, making up more than 50% of the total number of transactions in the market, which amounted to 275,479. In comparison, OpenSea managed to take only 16.7% of the market share, while the percentage for the total number of transactions was at 40.8%. It is important to note, however, that in terms of the number of trading addresses, OpenSea has higher figures compared to Blur.

This report highlights the dominance of Blur transactions in the NFT market, which indicates that the platform is gaining popularity and is likely to continue its upward trajectory. Blur’s market share is quite impressive, and it indicates that the platform is attracting a significant number of investors who are interested in the NFT market. The popularity of Blur transactions is evident from the transaction amount, which reached around $390 million in the past week, compared to the $99 million spent on OpenSea platforms. This trend also suggests that investors are placing their trust in Blur’s services and features, which is expected to bring in more revenue for the platform.

On the other hand, the data indicates that OpenSea’s market share took a dip, reaching only 16.7% from their previous numbers. This trend is concerning for OpenSea, especially since the platform held a significant share of the market in the past. However, the numbers show that OpenSea has a higher number of trading addresses, indicating that the platform still attracts a considerable number of users who are interested in buying and selling NFTs. OpenSea has built a reputation over time, and it is still a popular platform among investors.

The report shows that the NFT market is attracting more people than ever before, and the competition among platforms is fierce. It is essential for NFT platforms to market their unique features and provide users with a seamless experience to build trust and gain more investors. The Blur transaction’s dominance in the market share is a significant development, which will encourage more investors to join the platform.

In summary, the report illustrates the current state of the NFT market, highlighting the dominance of Blur transactions, and the rising competition among NFT platforms. OpenSea’s current market share decline will be a concern for the company, but their high numbers of trading addresses show that their platform still has a broad user base. The report highlights the importance of transparency, reliability, and user experience in the NFT market, as more investors seek ways to invest in digital assets.

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