12/12/2023 OpenSea on back-footing as OKX surpasses it in NFT trading volume

OpenSea on back-footing as OKX surpasses it in NFT trading volume

According to data from DappRadar, OKX NFT marketplace secured 32% dominance in the NFT sector, surpassing OpenSea in trading volume.

In ablog post on Dec. 7, 202, DappRadar gathered top marketplaces for trading digital collectibles, which allocated the most liquidity in November 2023. According to the data, the Blur marketplace was ranked the top platform, controlling a 35% share of the NFT trading volume and generating $345 million in trades in November 2023.

U.S. Treasury Describes NFTs as 'Highly Susceptible to Use in Fraud and Scams'
Cristiano Ronaldo unveils 4th NFT collection with Binance despite $1B lawsuit
SZA releasing NFT collection celebrating recent livestream event

OpenSea on back-footing as OKX surpasses it in NFT trading volume - 1Top NFT trading platforms by volume | Source: DappRadar

OKX NFT, a digital marketplace powered by the OKX crypto exchange, appeared to be the second-largest NFT platform over the past month, surpassing OpenSea in trading volume. As per DappRadar, OKX NFT secured a “substantial 32% dominance in the NFT sector,” overtaking OpenSea, which is currently holding a 10% market share in terms of trading volume.

Yet, DappRadar Blockchain Analyst Sara Gherghelas notes that OpenSea remains the top platform in terms of user base with over 190,000 registered accounts as of November 2023. She also suggested OKX succeeded in its efforts thanks to its bet on unique offerings of BitcoinOrdinals art pieces.

However, it is yet to be seen if OKX could retain its title given that Bitcoin Core developers are planning to get rid of Inscriptions, essentially putting an end to Bitcoin Ordinals and BRC-20 tokens.

As crypto.news reported, Bitcoin Core developer Luke Dashjr hopes to put an end to BRC-20 tokens and Bitcoin-based NFTs with a set of upgrades as these products appear to be spamming the network, leading to an excessive amount of data being stored on the blockchain.

Bitcoin Ordinalsare non-fungible tokens that enable the inscribing of data onto a satoshi, the smallest division of a Bitcoin. Since its launch in January 2023, the protocol has seen the inscription trend take off, leading to thousands being minted on the Bitcoin network. This has caused congestion and spikes in transaction fees, reaching a peak in April and May 2023.

Arts

https://crypto.news/opensea-on-back-footing-as-okx-surpasses-it-in-nft-trading-volume/

Interesting NFTs
30K
Artist notes: the halving ceremony is the most unusual part of modern bitcoin production in which the owners bet on how efficiently an alpha can inseminate the market.
Lucky Doge Club #358
Lucky Doge Club is a collection of 1000 cute and lucky doge NFTs which are chosen carefully from 20 Quadrillion doges via algorithm by combining hundreds of properties. Each doge is unique and precious. Ownership includes your doge's creative and commercial rights.
CryptoPunk #1190
The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed. Now they must be purchased from someone via the marketplace that's also embedded in the blockchain.
#15360
By OthersideDeployer
The Scion
A young figure caught in a moment of distraction, aware only ephemerally of his unconscious being, as it engages in psychological and psychedelic layer spaces. His right arm casually cradles a moray eel; the figure is comfortable but not truly aware of the potentials for danger in such negligence. His shirt reads “Bello” in Pokemon style font, harkening back to a childhood straddling the millennial threshold. To his right side, out of the unconscious deep, shrouded alien heads propagate as a fractal totem, each new iteration a more sophisticated rendering of emotional masking over the cold mystery of the greys. As the scion of the Budgie-Sattva, the young man, in his distraction, is also simultaneously aware of higher levels of self discovery. To his left a psychological topology sets beneath the oracle side of an 8 ball ,hovering; its message a purest concept of acceptance. The “Scion” lettering is in 80’s HeMan style bold declaration. The lower right side of the painting is like a hybrid of melon, feathers, and seeds. The crystals in the background bring light; conducted, refracted, reflected, and dispersed, to balance the dark shadow of the figure’s physical body. The aura of the scion succeeds in layers to point, with a finger, and the crown chakra, toward a center of a mandala existing as nigh pure application of strokes, in essence painterly abstraction, but also revealing hints of the Aura of migraine, and the bi-hemispherical nature of the brain–noting concerns of the possibility of inherited mental disease. Yet the flourish of chakra as it sets against that center is robust, active, coherent, and reveling against all fear. Fundamentally, the piece speaks to the activation of one’s potential to begin to “Know Thyself”, and find greater awareness out of the enigmas of the mind–as an inculcated seed given to the rich soil of one’s own birthright.