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Blur Overtakes OpenSea, Generates $1.3B ETH NFT Trades in February
Published Mar 01, 2023 06:07AM ET
Updated Mar 01, 2023 06:30AM ET
© Reuters Blur Overtakes OpenSea, Generates $1.3B ETH NFT Trades in February
- Blur generated over $1.3 billion worth of Ethereum NFT trades in 30 days.
- OpenSea saw $371.3M in transaction volume within the same timeframe.
- BLUR token hit an all-time high of $45.98 last month and fell by 98%.
According to data from DappRadar, the non-fungible token (NFT) marketplace Blur overtook rival OpenSea in transaction volume and generated over $1.3 billion worth of Ethereum NFT trades over the past 30 days.
The figure effectively represents a 194.21% increase from what was obtainable in the previous month. Meanwhile, OpenSea saw $371.3 million in transaction volume within the same timeframe, representing barely a 16.8% positive growth of the prior period.
The X2Y2 NFT marketplace occupying the third position came close behind with $355.6 million. Notably, the surge in the volume of Blur follows an airdrop of its BLUR governance token to NFT traders who earned rewards through the marketplace and those who traded elsewhere ahead of the launch.
According to the market tracking site, CoinMarketCap, the BLUR token has a reasonably high market cap of $322 million despite launching only sixteen days ago. It trades at $0.8166, with a 12% fall in the last seven days. Interestingly, BLUR hit an incredible all-time high of $45.98 on February 13 but has fallen by over 98% from that point to below one cent.
300M+ BLUR will be distributed to the community in Season 2.What’s the secret to maximizing rewards? Loyalty.Users with 100% loyalty have the highest chances of Mythical Care Packages, which are worth 100x Uncommon Care Packages.Here are 3 ways to maximize your loyalty pic.twitter.com/Cgiemrvpxh— Blur (@blur_io) February 21, 2023
Furthermore, the emerging NFT marketplace is teasing its next Season two token airdrop, noting that traders that bid on top collections closer to the floor get more rewards. In other words, traders who bid close to the cheapest available NFT for a particular project will have a better chance for the upcoming freebies. In the last 24 hours, the global NFT marketplace saw an in-flow of nearly $1 billion.
The post Blur Overtakes OpenSea, Generates $1.3B ETH NFT Trades in February appeared first on Coin Edition.
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