As Bored Ape's enthusiasm intensifies, OpenSea NFT transaction volume surges

Data shows that so far this year, OpenSea has generated more than 700 million U.S. dollars in sales, making the NFT market expected to hit a new high this month.

In January, as Yuga Labs' Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) once again set off a speculative frenzy, OpenSea's NFT transaction volume soared.

According to the data released by "rchen8" on Dune Analytics, since 2022, OpenSea has generated transactions worth more than 700 million U.S. dollars, of which January 3 is the largest day of the year, with a 24-hour transaction volume of up to 255.8 million U.S. dollars .

Although popular bystanders like Wu said blockchain claimed that the sales volume on January 3 was the record high of OpenSea, the data released by rchen8 on Dune Analytics showed that it reached a record high of US$322 million on August 29. In December, OpenSea's monthly transaction volume reached US$3.24 billion, which was only 5.3% short of the platform’s peak of US$3.42 billion in August. As the NFT market has conducted transactions worth more than $700 million in the first four days of January, if the momentum continues throughout the month, it may soon break record highs.

Bored Ape fanatic

The recent boom around BAYC and MAYC NFT, as well as a series of other projects by Yuga Labs, may be a factor in the surge in OpenSea sales.

According to data from CryptoSlam, MAYC is currently the No. 1 NFT project in the secondary market with 7-day transaction volume at 93.2 million U.S. dollars, followed by BAYC NFT at 88.4 million U.S. dollars.

In the past 30 days, the MAYC and BAYC projects generated US$189.7 million and US$182.6 million, respectively, and at the time of writing, they became the third and fourth NFT collectibles.

In terms of 24-hour trading volume, MAYC has obtained a secondary trading volume worth $18.7 million, while BAYC has generated $14 million. According to OpenSea data, the current reserve price of BAYC NFT is 67 Ethereum (ETH), worth about 250,000 US dollars, while the current price of MAYC NFT is 15.87 ETH, or 59,300 US dollars.

According to reports, so far in January this year, pop culture icons such as rapper Eminem, musician Britney Spears and comedian Dave Chappelle have all BAYC NFT was snapped up this month at a six-figure price.