OpenSea's market share rebounds as Blur underperforms

Odaily Planet News In early 2022, OpenSea's market share in the Ethereum Non-Fungible Token market reached approximately 97%. Just two years later, the platform seemed to shrink in fierce competition, with its market share dropping to slightly below 20%, and even falling to 13% in the summer of 2024. However, in the following 10 months, OpenSea's share in the Ethereum Non-Fungible Token market steadily climbed, now exceeding 51%. Analysts suggest that OpenSea's "comeback" in market share and market capacity is not due to the platform's own good performance, but because its main competitor Blur performed poorly on a relatively competitive basis. Since reaching its latest peak in December 2024, Blur's monthly Non-Fungible Token trading volume has been continuously declining, with an average monthly decline rate of 55%. During the same period, OpenSea's monthly Non-Fungible Token trading volume fluctuated more significantly, dropping 48% from December to January, but rising 20% in February due to the SEA token launch. It is worth noting that in March, both OpenSea and Blur experienced similar month-on-month declines, with the former dropping 67% and the latter 62%. (The Block)