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Ethereum-based NFTs surge on OpenSea

Ethereum-based NFTs surge on OpenSea

So far this year, there has been a resurgence of interest in profile-picture (PFP) NFTs, which are being driven by Blue Chip NFTs collections.

Data from Dune Analytics shows that sales of Ethereum-based NFTs on OpenSea have reached their highest level in four months. At the end of the trading month, the number of monthly sales is expected to be at its highest level since August 2022.

So far this month, Ethereum-based NFTs sold on OpenSea have brought in a total of $409 million. This was a 21% increase from the sales volume of $283 million at the end of 2022.

The recent increase in sales volume is attributable to a rise in the number of Ethereum-based NFTs offered for sale on the OpenSea marketplace. In the last 28 days, the top NFT marketplace has sold 1.03 million NFTs that were created with Ethereum. Dune Analytics says that this was the most Ethereum-based NFTs that were sold on OpenSea in the last two months.

In addition to the rise in the number and amount of Ethereum-based NFTs sold on OpenSea, the market itself has gained more attention since the 2023 trading year began. DappRadar says that the number of transactions on OpenSea has grown by 9% in the last month.

The increase in the number of transactions of the decentralized application (dApp) led to a surge in sales volume. In the past month, OpenSea’s sales volume increased by 62%. Despite the 1.21% decline in the number of unique active wallets during the period under consideration, all of these events occurred.

Ethereum-based NFTs surge on OpenSea

Ethereum is worth the most

In the crypto ecosystem’s NFT vertical, Ethereum-based NFTs have seen the most sales over the past month. According to data from CryptoSlam, NFT sales on the Ethereum chain totaled $745 million over the past 30 days.

There were 1.91 million sales transactions on the chain involving 207,719 buyers and 211,813 sellers during this time period.

About Tina

Tina concentrates on all matters related to NFT and Web3. Tina uses social media to spot NFT trends and report unique news.

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