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NFT market rebounds, floor prices surge by 30%, how are OpenSea and Blur performing?

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NFT market rebounds, floor prices surge by 30%, how are OpenSea and Blur performing?

The NFT analysis platform NFTGo recently compared the current overall situation of the two major NFT trading markets, OpenSea and Blur, and found that the monthly trading volume of the latter is much higher than the former, but the former still has a higher number of active traders. In addition, the gradual increase in trading volume and prices in the NFT market may indicate the arrival of the next NFT Summer.

OpenSea vs Blur

Trading Volume and Number of Transactions

Firstly, NFTGo compared the trading volume of Blur and OpenSea in the past month, indicating that the former is more than double the latter.

It is reported that Blur's monthly trading volume is 115,700 ETH, while OpenSea only has 49,600 ETH.

However, OpenSea has a higher number of transactions, reaching 355,000, while Blur has 150,000. Nevertheless, the average transaction value of a single transaction on Blur appears to be higher.

Volume per Address

Furthermore, the average transaction volume per address on Blur is 0.76 ETH, while on OpenSea, the average transaction volume is 0.13 ETH.

However, three months ago, the two figures were 2.87 ETH and 0.43 ETH respectively, indicating a general decline in prices of many NFT projects, and market enthusiasm is still waning.

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Number of Trading Users

Additionally, a deeper look into the number of active traders on both platforms reveals that OpenSea has a significantly larger user base than Blur.

Reportedly, OpenSea has as many as 108,700 active traders, while Blur is only one-third of that number. Similarly, the number of buyers and sellers on the former also far exceeds the latter, at approximately 59,800 and 68,300 people respectively.

Over 30% of Blur's Trading Volume Suspected to be Wash Trading

Finally, after filtering out suspected wash trading behaviors, Blur's trading volume in the past month dropped significantly by 33%, decreasing by 38,400 ETH, while OpenSea only decreased by 200 ETH.

Is Blur Emerging from the Winter?

Quoting data from DeFiLlama, it was reported that Blur has been continuously declining since the end of July in terms of Total Value Locked (TVL), Blur Bids TVL, and the price of the $Blur token.

However, the situation has gradually improved in the past two weeks, with the TVL rising from a low point of $76.8 million in mid-October to the current $95 million, which is about the level at the end of August.

NFT Market Showing Signs of Recovery

It is worth noting that the NFT market seems to be gradually recovering over the past month, with overall upward trends in various data such as trading volume, total market value, and blue-chip indices in October.

Below is a summary of the trading volume and prices of several major NFT projects in the past 30 days, compiled through NFTGo data for readers to review together.