OpenSea has tightened its grip on the NFT marketplace, leading trading volumes over the past month as users flocked to the platform’s updated and lower-cost features.
With a combination of cheaper fees and expanded blockchain support, OpenSea managed to boost both transactions and user loyalty.
Can Wallet Growth Ignite Another NFT Boom?
According to NFT Scan, trading volume across NFT platforms hit $155.1 million over the last 30 days, with OpenSea commanding a dominant 42% market share.
Close competitors trail far behind: Blur at 23.16%, CryptoPunks at 10.97%, and Magic Eden at 7.67%.
Other contenders, including OKX NFTs and CoralCube, captured under 6% each.
OpenSea also leads when it comes to users.
Of the 615,300 active wallets last month, 69.62% conducted trades on OpenSea.
Across the last three months, OpenSea attracted over 66% of total wallet activity, with Magic Eden a distant second at just 8.77%.
OS2 Launch, 0.5% Fees, and Cross-Chain Trading Reinforce OpenSea’s Edge
February’s OS2 platform launch brought sweeping changes: fee cuts from 2.5% to 0.5%, zero swap charges, and the addition of Solana token support and real-time analytics.
These upgrades positioned OpenSea far ahead of Blur and Magic Eden.
A revamped homepage and faster navigation also improved user experience.
Additionally, OpenSea introduced its SEA token to reward loyal traders, and regulatory risks lessened after the SEC closed its probe without filing charges.
Thanks to these factors, OpenSea remains the dominant force in the evolving NFT landscape.
NFT Sales Volumes Remain Below Bull Market Peaks
Despite improvements, overall NFT sales have yet to return to their former highs.
Sales in 2024 reached $8.88 billion—a marginal 1.1% gain over 2023, but far below the $23.7 billion achieved in 2022.
February 2025 saw NFT trading volumes halve compared to January, falling to $498 million, while sales volumes dipped 16%.
Notably, art collective Kanbas Collection made a $3 million NFT purchase, suggesting a shift toward sustainable high-value trades.
However, first-quarter NFT sales in 2025 dropped sharply to $1.5 billion, down 61% from the same period in 2024.
Nonetheless, recent trends—such as a 52% surge in new buyers—suggest that NFT market interest remains intact.
Frequently Asked Questions (FAQs)
Is OpenSea Moving Beyond Traditional Collectibles?
OpenSea is expanding into new categories, offering NFTs tied to real-world assets, AI art, and gaming ecosystems like blockchain-based collectibles and land.
What Blockchains Are Now Supported by OpenSea?
OpenSea’s latest upgrade added support for 14 blockchains, including Flow, ApeChain, and Soneum, broadening its cross-chain trading capabilities.
