OpenSea Pro Sets a New Record High: Trading Volume Reaches $5.18 Million in a Single Day

On April 18th, according to Dune data, the trading volume of OpenSea Pro (formerly Gem v2) on April 15th was $5.18 million, setting a new record high for OpenSea Pro trading volume in a single day.

On April 15th, the trading volume of OpenSea Pro was $5.18 million, setting a new record high in a single day

On April 15th, OpenSea Pro (formerly known as Gem v2) broke records with a trading volume of $5.18 million. This achievement has set the bar high for other crypto-exchange platforms to follow.

Introduction

The world of cryptocurrencies is continually evolving as more people join the space. Among the many activities that take place in this dynamic industry, cryptocurrency trading and investment have become some of the most popular. With the emergence of decentralized exchanges, traders now have a broader range of options when it comes to where to transact their digital wealth.
OpenSea Pro is one of these decentralized exchanges that have been gaining significant traction in recent times. It is a marketplace that allows individuals to buy and sell NFTs (Non-Fungible Tokens) effortlessly. OpenSea Pro has reported impressive trading volume figures, with the recent one on April 15th being the largest daily trading volume in its history.

What is OpenSea Pro?

OpenSea Pro is a decentralized exchange that focuses mainly on the buying and selling of NFTs. It is an upgraded version of the original OpenSea marketplace that was launched in 2017. The original platform was restricted to Ethereum-based tokens but has since expanded to other blockchain networks such as Polygon (previously Matic), Flow, and more.
OpenSea Pro stands out among other NFT marketplaces with its superior user experience and breadth of features. It has a user-friendly interface that is accessible to both novice and advanced traders. The platform also supports a wide array of NFT artwork, including music, videos, games, and more.

Overview of OpenSea Pro Trading Volume

With the increasing popularity of NFTs, OpenSea Pro has seen its trading volume soar. According to Dune data, the trading volume on April 15th was a staggering $5.18 million, setting an all-time high record.
OpenSea Pro’s trading volume has been on a steady rise over the past year. In July 2020, the platform’s daily trading volume was just $39,000. In December 2020, the volume rose to $2.8 million, and by January 2021, it reached $4.4 million.
There has also been a significant increase in the number of active users on OpenSea Pro. As of the time of writing, the platform had more than 100,000 active traders.

Factors Contributing to OpenSea Pro’s Increase in Trading Volume

Several factors are responsible for OpenSea Pro’s rapid growth and increase in trading volume. Firstly, the increased awareness of NFTs among the general public has greatly contributed to the platform’s success. More people are becoming aware of the non-fungible token concept and are eager to invest in its future. This has led to more NFT creators and buyers flocking to the platform.
Secondly, OpenSea Pro has continued to improve its features and services to accommodate the ever-increasing demand. The platform has integrated new blockchain networks, which has allowed it to broaden its NFT offerings. Additionally, the user interface has been refined, making it easier for users to navigate the platform.
Lastly, the successful fundraising rounds that OpenSea Pro has experienced have helped to fuel its development and success. In March 2021, for instance, the platform raised $23 million in Series A funding.

Conclusion

OpenSea Pro’s success is a testament to the viability of decentralized exchanges as an alternative to traditional, centralized exchanges. The platform’s ever-increasing trading volumes and user-friendly features make it a popular choice for NFT traders, both novice and advanced.
OpenSea Pro has set the bar high with its recent trading volume record, and it will be interesting to see how other crypto exchanges react to this. With the continued growth of the NFT industry, OpenSea Pro’s success is likely to continue for the foreseeable future.

FAQs

1. What is NFT?
NFT stands for Non-Fungible Token, a unique digital asset that is stored on a blockchain.
2. What makes OpenSea Pro unique?
OpenSea Pro is a decentralized exchange that specialises in non-fungible token (NFT) trading. It also stands out with its user-friendly interface and broad selection of NFT artwork.
3. What is the significance of OpenSea Pro’s record-breaking trading volume?
The trading volume record set by OpenSea Pro on April 15th shows the increasing demand for NFTs and decentralized exchanges. It also indicates the potential of the NFT and decentralized exchange industry to grow in the future.