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A Look Into This Weekend’s NFT Action

Aug 30, 2021 · 4 min read

By Ashwath Balakrishnan, and Jeremy Ong

Market Update

Price action for majors has been awful as of late, but there’s a ray of hope with flows starting to pick up in the last couple of hours. Avalanche ecosystem coins took a beating after Fantom and Celo both announced liquidity mining programs.

The Endless Open Sea

OpenSea continues to dominate the NFT market, accounting for over 95% of total volume. Daily volume hit an all-time high this Sunday with a $300M turnover. Since June, the number of unique users that have interacted with OpenSea has more than doubled thanks to the NFT mania. OpenSea recorded sales of over 1.5M NFTs in August, and the company grossed $215M in fees so far this month.

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