Blur, is a digital art startup that positions itself as the NFT marketplace for professional traders. Blur Overtakes OpenSea by achieving impressive trading volume figures in daily trading volume. It maintains the top position for over a month. On-chain analytics firm Nansen reported that Blur’s daily trading volume peaked at an astonishing $117.7 million on February 22. While Opensea’s volume was just over $13 million at the same time. It means that Blur’s trading volume was nearly nine times higher than Opensea’s.
Nansen also compared the top ten most traded NFT collections of all time on Blur and Opensea. It reveals that the Mutant Ape Yacht Club was the most traded NFT collection on Blur. With a trading volume of 230,226 ETH. Yuga Labs’ flagship NFT line, the Bored Ape Yacht Club, was the most traded collection on Opensea. With a volume of 697,154 ETH.
The data collected by Nansen revealed that Blur Overtakes OpenSea by 46% of Opensea’s trading volume. It is a remarkable achievement for a relatively new NFT marketplace. However, it is important to note that Nansen filtered out wash trades when calculating the trading volumes of both marketplaces.
Despite Blur’s remarkable growth in trading volume and market share, the performance of its native token BLUR has not reflected this growth. On the day with the highest daily trading volume, BLUR was trading at $1.08. However, the token has since lost over 44% of its value and is currently trading at $0.60.
In conclusion, Blur Overtakes OpenSea by achieving such high trading volume figures in a short period is impressive, especially given the stiff competition in the NFT marketplace industry. However, the current value of its native token BLUR suggests that there may be other factors at play that are not reflected in the trading volume data.