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OpenSea Dominates NFT Market with 42% Share After Fee Reduction
OpenSea Dominates NFT Market with 42% Share After Fee Reduction
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OpenSea has solidified its leadership in the NFT marketplace, capturing 41.91% of trading volume over the past 30 days following a strategic 0.5% fee cut. The platform’s revamped features, including cross-chain support, have attracted a surge of traders, driving total sector volume to $155.1 million.
Competitors trail significantly, with Blur holding 23.16% market share and legacy players like CryptoPunks and Magic Eden maintaining 10.97% and 7.67% respectively. The fee reduction appears to have been a masterstroke in market positioning, as smaller platforms collectively account for less than 11% of total activity.
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