Analysis: Although OpenSea's market share has seen a Rebound, the overall performance of NFTs has still not escaped difficulties.
At the beginning of 2022, OpenSea accounted for as much as 97% of the volume in the Ethereum NFT market, but its market share has since fallen to around 20%. However, over the past 10 months, OpenSea's share has steadily climbed and has now surpassed 51%. Analysts believe that the recovery of OpenSea's market share may be due to the poor performance of its competitors. The volume of NFT transactions on Blur has continued to decline, with an average monthly decrease rate of 55%. Additionally, the overall Ethereum NFT industry has seen a significant drop in volume over the past three months, performing poorly.
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