Opensea’s Trading Volume Is Still Exploding In the First 10 Days of 2022, Despite The Crypto Market’s Pessimism

OpenSea market hits new records in the first 10 days of 2022.

August 2021 was the most significant month on record for OpenSea trading volume, with approximately $3.5 billion traded. However, until January 10, the trading volume of NFT has reached $2.1 billion, which is more than half of the total trading volume for August 2021. This marketplace is on track to surpass $6 billion in trade volume in January if the current trend continues.

Jay Chou’s NFT collection selling had a big impact on the OpenSea market. Jay Chou’s fashion label PHANTACi and Ezek, a blockchain entertainment platform, have collaborated to create virtual bear avatars. The 10,000 NFT pieces were all sold in less than 40 minutes on January 1, for a total of $10 million. Each Phanta Bear was sold for 0.26 Ether (ETH), which is almost $1,000 USD. The whole turnover came to $10 million dollars in the end.

Since entering 2022, OpenSea’s single-day trading volume has exceeded $200 million for 6 days. Especially on January 9, OpenSea’s single-day transaction volume exceeded $260 million, the highest in the past three months.

Besides, a rare Doodles NFT was purchased for $1.1 million on OpenSea last week. Pranksy, an NFT collector, paid 296.69 ETH (about $1.1 million) for Doodle #6914 — which features one-of-a-kind gold ape traits.

Now both Jay Chou’s PhantaBear collection and Doodles are in the top 3 NFTs on OpenSea.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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