bitcoin
Bitcoin (BTC) $ 22,868.13
ethereum
Ethereum (ETH) $ 1,570.91
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 309.64
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.400739
binance-usd
Binance USD (BUSD) $ 0.999428
dogecoin
Dogecoin (DOGE) $ 0.091552
cardano
Cardano (ADA) $ 0.37264
solana
Solana (SOL) $ 23.62
matic-network
Polygon (MATIC) $ 1.08
polkadot
Polkadot (DOT) $ 6.19
tron
TRON (TRX) $ 0.06205
bitcoin
Bitcoin (BTC) $ 22,868.13
ethereum
Ethereum (ETH) $ 1,570.91
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 309.64
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.400739
binance-usd
Binance USD (BUSD) $ 0.999428
dogecoin
Dogecoin (DOGE) $ 0.091552
cardano
Cardano (ADA) $ 0.37264
solana
Solana (SOL) $ 23.62
matic-network
Polygon (MATIC) $ 1.08
polkadot
Polkadot (DOT) $ 6.19
tron
TRON (TRX) $ 0.06205
Tuesday, January 31, 2023
HomeCoinsEthereumOpenSea's dominance shrank 23% in 2022

OpenSea’s dominance shrank 23% in 2022

CryptoSlate appeared into Glassnode knowledge to guage OpenSea’s efficiency in 2022 and revealed that {the marketplace}’s dominance fell to 33% from 50% in January.
At first of the yr, OpenSea corresponded to twenty% of the whole Ethereum (ETH) fuel utilization. This share declined all year long to see 9%. {The marketplace}’s NFT switch depend additionally recorded a 25% lower in 2022.

The chart beneath represents the variety of transactions within the Ethereum community in relation to the transactions that work together with NFTs by calculating a share share.

This metric contains each ERC721 and ERC1155 token contract requirements that transacted on main NFT marketplaces — OpenSea, LooksRare, Rarible, and SuperRare. The information begins from the start of the yr and represents the shares of every NFT market with a particular colour.

NFT Transactions (Relative)
NFT Transactions (Relative)

The pink areas signify the main NFT market OpenSea. It may be seen that OpenSea began the yr at round 50% market dominance. Nonetheless, {the marketplace}’s dominance began to decrease on the finish of Might, and it ended the yr at round 33%.

NFT switch depend

The NFT switch depend on marketplaces represents the variety of NFT transfers facilitated by being paid with ETH or Wrapped Ethereum (wETH). This metric solely contains knowledge from OpenSea and LooksRare, ranging from the start of the yr.

NFT transfer count on marketplaces
NFT switch depend on marketplaces

An analogous decline in OpenSea’s account can also be seen on this metric. In accordance with the info, OpenSea began the yr with round 80,000 transfers and step by step declined all year long. As of Dec. 31, OpenSea facilitates round 60,000 transfers, marking a 25% lower in quantity.

See also  Shift towards Liquid Staking Derivatives anticipated after ETH Shanghai improve

Fuel utilization by NFTs

The fuel utilization by NFTs metric calculates a share share that represents the relative quantity of fuel consumed by the Ethereum community attributable to transactions interacting with NFTs.

OpenSea’s decline will be seen from its fuel utilization share as nicely. {The marketplace} began the yr by corresponding to twenty% of the entire fuel utilization and recorded a pointy decline to finish it with 9%.

BitcoinMasterNews

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Explore More

Related Articles