Dune analytics researchers have compiled multiple dashboards indicating that OpenSea and Blur are witnessing significant declines in their daily users and sales.
The popularity of NFTs in the crypto community has increased dramatically since 2021. According to a report released on April 6 by CoinGecko and Blockchain Research Lab, three-quarters of crypto holders are now having NFT in their asset portfolio.
Since its launch in 2021, Magic Eden has undergone rapid growth, raising $130 million in Series B funding in July 2022 with a valuation of $1.6 billion. It is currently the largest NFT marketplace in the Solana ecosystem.
Since the launch of its marketplace for the Bitcoin NFTs, Magic Eden's share in the Ordinals market has skyrocketed, accounting for more than 50% of the market.