World's biggest NFT marketplace breaks monthly trading volume record

The world's largest Non-Fungible Token (NFT) marketplace has broken one of its previous records set back in August 2021.

@JakConnorTT

Published Feb 2, 2022 1:31 AM CST
Updated Mar 1, 2022 6:01 AM CST

41 seconds read time

The world's biggest Non-Fungible Token (NFT) marketplace has broken its previous record for total monthly trading volume that was set back in August 2021.

World's biggest NFT marketplace breaks monthly trading volume record 01

The leading NFT marketplace, OpenSea, has reportedly broken its record for highest monthly trading volume as data obtained by Dune Analytics indicates that the NFT marketplace had more than $4.95 billion worth of Ethereum traded on its platform throughout January 2022. Additionally, the data indicates that $79 million in Polygon was also traded throughout the month, breaking its previous record of $76 million.

Back in August, 2021, the NFT space exploded, and with it came an explosion in trading volume on marketplaces. OpenSea's previous monthly trading volume record hit $3.4 billion in August, and recently the platform also had its single best day for Ethereum NFT trading, with a staggering $233 million traded in a 24 hour period. If you are interested in reading more about this story, check out this link here.

NEWS SOURCE:decrypt.co

Jak Connor

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.