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OpenSea Leads Ethereum Burn With 10% Sales Spikes 100%


So, Sales are surging on OpenSea recently as the platform leads in Ethereum burn rate. Of course, with more than $400,000 million ETH burned.

Furthermore, as per data from ultrasound.money, about 900,000 ETH is burn. Notably, OpenSea, alone, leads the burning of over 100,000 ETH.

More so, OpenSea hits the top, with its burning rate spiking around August because of the new NFT Craze. Also, the falling numbers of its trading volume recently is seeing some declines. Nonetheless, it’s still able to maintain its lead as over $400 million of Ether burns through the platform.

Notably, the general NFT market is currently not what it use to be, however still, some projects in the space like the Bored Ape Yacht Club (BAYC) are still doing well.

So, Dune Analytics reveals the trading volume of Ethereum on OpenSea before November 15 to be less than $50 million
However, after the selling volume of BAYC NFTs spike by 900%, the trading volume of ETH on OpenSea doubles to $105 million.

“Permission to come a bored? @BoredApeYC #NewProfilePic”
pic.twitter.com/1pbBt2gB1V — jimmy fallon (@jimmyfallon) November 12, 2021

Lastly, The interest around the NFT project spikes because of new interest of celebrities. Of course, Namely, Jimmy Fallon, for changing his profile picture to a Bored Ape NFT.

Also, the growth is in link with the new partnership with Universal Music Group, forming a metaverse band “Kingship”.

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