Opensea increases market share on the back of launching its own token

The figure rose from 25,5% to 71,5% last week

21.02.2025 - 11:10

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2 min

What’s new? NFT trading platform Opensea has increased its share of the Ethereum NFT market volume, which last week amounted to 71,5%. Just four weeks ago, the same Opensea figure was 25,5%. The bulk of this growth came last week, when its share rose from 42,4% to 71,5%, mainly due to Blur’s share of the total NFT volume. Analysts believe that the reason for this jump in Opensea volume was the announcement of the launch of the SEA platform token.

Information about the token’s launch

What else is known? Opensea officially announced its SEA token on February 13, and since then, the platform has generated an average NFT trading volume of $17,4 million per day. For reference, five days before the token launch announcement, Opensea’s average volume was just $3,47 million.

The number of transactions on Opensea also increased dramatically, as there were an average of 14 700 transactions per day after the launch information and airdrop. In the five days before the SEA announcement, this figure averaged just 6 100 transactions per day.

Specific aspects such as tokenization and timing have not been released yet. Nevertheless, OpenSea representatives noted that the size of the airdrop will depend not only on recent transactions but also on the whole experience of the user’s interaction with the platform. Also, the NFT marketplace team emphasized that the tokenization process will be as simplified and accessible to users as possible. Notably, users from the United States will also be able to count on a share of the SEA distribution.

Speculation about a possible token launch from the NFT marketplace began back in December 2024, when OpenSea registered a fund in the Cayman Islands. This sparked speculation that the platform could use the cryptocurrency-friendly legal regulations of this jurisdiction to launch its coin.

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