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OpenSea Marketplace Records $700M Trading Volume In January

The new year is already looking promising for popular NFT marketplace OpenSea, as it has hit another milestone in January. Dune Analytics revealed that the trading volume on the platform in 2022 so far surged to a whopping $700M, putting it on course for another record-breaking 30-day period. 

That’s not all; OpenSea also recorded a mouthwatering $255.8M within 24 hours. Famous analyst Wu Blockchain, discloses that the trading volume recorded on January 3 was already a record high, but Dune Analytics states otherwise, arguing that August 29 $322M sales remain the ATH. 

Last December’s trading volume eclipsed $3.24B, the second highest ever recorded on the platform trailing the $3.42B achieved in August. With January posting $700M already in 2022, the A.T.H. may soon be eclipsed if the trading momentum is sustained for the remainder of the month. 

Bored Ape Frenzy Responsible For The Rising Volume

It’s not strange that the trading volume is already surging in the first four days of the month given the marketplace’s records. However, several experts are attributing the record to the frenzy surrounding the Bored Ape and Mutant Ape Yacht Clubs. 

CryptoSlam indicated that the Mutant Club is ranked number one NFT project in trading volumes across a seven-day period on secondary markets with a figure of $93M. Bored Ape came second with $88M. 

Within 30 days, the Mutant Club and Bored Ape projects generated $189M and $182M respectively, putting them in number three and four in the list of highest ranked NFTs. In 24 hours, MAYC generated $18M in trading volumes, while Bored Ape recorded $14M. 

Bored Ape Now The Most Expensive NFT Collection

Last December, Bored Ape topped fellow NFT collection CryptoPunks to become the most expensive collection on OpenSea after rumors emerged that it will flip the floor price of CryptoPunks given the declining price of the latter. Then, the floor price of Bored Ape was 53 ETH, while that of CryptoPunks was 52 ETH

As of the time of this publication, the floor price for Bored Ape is now 67 ETH, worth about $250K in today’s trading market. For Mutant Club, the floor price is 15.87 ETH, worth around $59.3K. CryptoPunks still retains its second place with 62 ETH for the cheapest collection. 

Several celebrities have bought NFT collections for ridiculous sums so far this year. Prominent NBA superstar Stephen Curry bought Bored Ape NFT for 55 ETH last September. Hip-Pop star Eminem and pop-culture singer Britney Spears have already snapped up Bored Apes for six figures. 

Even Post Malone featured Bored Apes in his music video. Bored Apes have revealed plans to launch its token before the end of Q1 2022. 

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