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OpenSea’s Single-Day Transaction Volume Surpasses 3-Month Record High of $260M -Breaking

by Mike Robinson

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OpenSea’s Single-Day Transaction Volume Surpasses 3-Month Record High of $260M

The world’s largest NFT marketplace, OpenSea, hit a three month record trading volume of over $260 million on the 9th of January. The platform’s all-time high, however, was reached in August 2021 at $322 million in transactions.

On the same day, OpenSea announced plans to improve the site’s reliability and support. OpenSea will increase its engineering staff to over 200 people, redesign core components of the platform and reduce customer support times.

OpenSea is already generating $2 billion in NFT revenues this year and has received $300 million funding.

Bored Ape Yacht Club (MAYC) and Mutant Ape Yacht Club (MAYC) are the most popular projects.

Colin Wu, a blockchain journalist, reported that some OpenSea users were experiencing lag due to NFT popularity. Jay Chou (a well-known Chinese singer) issued an NFT that caused a surge in Asian users to access the OpenSea platform.

The Flipside

  • OpenSea Some serious problems. Security issues.

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