Overview

• Blur is outperforming OpenSea in NFT trading volume, despite having fewer traders.
• As of today, Blur accounts for 46% of the weekly trading volume compared to OpenSea’s 36%.
• Blur has experienced a surge in bidding pools, reaching an all-time high of $42 million.

Comparing Trading Volumes

NFT marketplace Blur is surpassing OpenSea in terms of trading volume, despite having fewer traders than the latter. According to data from Dune analytics, a blockchain data provider, Blur currently makes up 46% of the total weekly trading volume compared to OpenSea’s 36%. Further analysis reveals that while OpenSea houses more transactions (29,600) than Blur (12,601), the former only boasts $11.3 million daily traded on its platform while Blur trades around $14.3 million daily.

Surging Bidding Pools

Since it raised 11 million dollars in October 2020 during its early stages of development, Blur’s bidding pools have skyrocketed to an all-time high of 42 million dollars as at February 6th 2021. This is roughly 2/3rds of Aptos TVL!

Keungz Incident

On December 8th 2020 Twitter user Keungz lost 70 ETH (approximately 83000 USD at the time) using Blur’s bidding system taking responsibility for his mistake initially. However upon further investigation it was found that the tragedy was due to a flaw with the platform’s new bidding system and so 50% of lost amount was refunded by Blur to the individual affected.

Conclusion

Despite being relatively new on the scene and with fewer traders than competitors like OpenSea; NFT Marketplace Blur has outperformed them in terms of trading volume and general market activity since its debut last year in October 2020. This can be attributed to its surging bid pool which recently reached an all-time high as well as taking responsibility for any misfortunes resulting from their platform such as Keungz incident which happened late last year.