OpenSea has reclaimed its position as the leading NFT marketplace as overall market activity declines. In the first quarter of 2025, NFT sales volumes dropped by 61% to $1.5 billion compared to the same period in 2024. OpenSea now commands over 40% of the market's trading volume, significantly ahead of its closest competitor Blur, which holds 23%. Recent data indicates that nearly 70% of NFT wallets engaged with OpenSea, totaling over 610,000 wallets in just the last month. In comparison, Magic Eden and OKX NFT together account for a mere 17% of wallet activity. OpenSea's resurgence follows the launch of its new platform OS2 and the addition of Solana trading features. Despite the overall slowdown in NFT sales, certain collections like CryptoPunks have seen growth, highlighting that interest in NFTs remains strong among traders.

Source šŸ”—