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- 🚗 #GateSquareCommunityChallenge# Round 1 — Who Will Be The First To The Moon?
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Due to the poor performance of Blur, OpenSea's market share and market capacity have rebounded.
Odaily News In early 2022, OpenSea held a market share of around 97% in the Ethereum NFT market volume. Just two years later, the platform seems to have shrunk in the face of fierce competition, with its market share dropping to just below 20%, and even falling to 13% by the summer of 2024. However, in the following 10 months, OpenSea's share of the Ethereum NFT market volume has steadily climbed, now exceeding 51%. Analysts believe that OpenSea's "return" in market share and market capacity is not due to the strong performance of the OpenSea protocol itself, but rather because its main competitor Blur has performed poorly in a relatively competitive environment. (The Block)