OpenSea Activity Slows DownSep 7, 2021
OpenSea activity is slowing down; daily volume fell 50% — from its late Aug. peak of $322M to ~$133M today. Daily transactions cooled down as well from ~80k at their peak to ~55k today. During the last few days of August, several hyped projects like Mutant Apes Yacht Club launched and caused a massive uptick in volumes.
However, this doesn’t mean NFT season is just over yet. There’s still a lot of attention on the space, as Loot and its derivatives took over Twitter during the weekend. Likewise, as ETH’s price goes up and the network gets congested, some of the activity could spill over to Solana’s fledgling NFT ecosystem.