Despite the fact that the drums of fresh NFT excitement are banging, a newcomer to the NFT marketplace known as BLUR has surpassed the goliath NFT platform known as OpenSea in terms of the amount of weekly trading thanks to its zero-fee trading strategy.
According to the data presented on DappRadar, BLUR’s weekly trading volume skyrocketed to $515.37M with around a 436% jump, while Opesea fell to second place in the leaderboard with a $322.86M trading volume, a 238% hike compared to the previous weekly span.
The data from CryptoSlam shows that the Ethereum blockchain’s NFT trading volume reached $596,310,359 with an over 186% spike.
Following what seemed like an endless period of upheaval, the market is already showing signs of entering a phase of recovery. Major cryptocurrencies like Bitcoin and Ethereum have been steadily climbing back to their previous levels over the last several weeks. In addition to this, the increase in the amount of trading done in NFT reveals indicators of its growing buzz.
Interestingly, the rise in trading activity on BLUR was anticipated, as it had just implemented a much-anticipated airdrop of its $BLUR tokens along with a new royalties scheme for producers. This was a factor that contributed to the increase in trading volume. By demanding that OpenSea’s authors filter out BLUR in order to permit full royalties, BLUR has effectively declared war on OpenSea.
Compiled by Coinbold