OpenSea’s Trading Volume Hits Lowest Level Since 2021
Main page News, NFT
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Sept. 4, 2023

Trading volume in NFT marketplace OpenSea fell to $106 million in August, the lowest since April 2021, according to data from Dune Analytics.

As of August 31, OpenSea disabled its Operator Filter tool, which collects royalties. However, the decision did not receive the backing the team had hoped for.

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Billionaire Mark Cuban called it a big mistake. According to him, the move has caused a decrease in market confidence and damage to the industry.

At the same time, Yuga Labs, the studio behind NFT collection Bored Ape Yacht Club (BAYC), has announced it plans to stop cooperating with the platform in February next year.

Journalist Colin Wu accused OpenSea late last month of blocking users for using the Tornado Cash mixer. He noted the investigation is still ongoing, so the restrictions are due to a "proactive and strict control policy" on the part of the platform.

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