On Wednesday, Looksrare (a new NFT-based marketplace) surpassed Opensea for daily volume. According to statistics, 3264 traders who trade on Looksrare have made $385.39 Million in transactions in the past day. This is due to a 1,461% rise in the daily volume.
Looksrare NFT market takes number 1 position in terms of daily NFT volume
There’s a new Ethereum-based NFT marketplace called Looksrare and during the last day, it has surpassed Opensea in 24-hour volume. Opensea remains the most popular NFT marketplace by volume, with total sales of $14.68 million. The NFT marketplace Looksrare is new and hasn’t processed billions of dollars in sales.
24-hour statistics show, however, Looksrare’s daily volume and hourly volume has surpassed Opensea’s sales on January 12, 2022. Looksrare has seen $385.39 million in sales among 3,241 traders, which is lower than Opensea’s 59,500 traders on Wednesday. Opensea’s 24-hour volume was $109.78 million in sales as of Wednesday morning at 7:00 a.m. (EST).
Although the market is still new, it has an established name. buzzing on social media after the market beat Opensea’s daily trade volume. “The tragedy of complacency. Just like Mex during its heyday, Opensea probably succumbed to their inertia, comfortable in their established dominance,” the Twitter account dubbed “Hsaka” tweeted.
Dune Analytics has also been used to generate charts that show the differences in NFT platform volumes. For instance, one user created a “Looksrare VS Opensea” set of charts that analyzes daily and hourly volume between both NFT markets. Other Dune Analytics users have created visual graphs in order to analyze Looksrare’s sales.
Looksrare has seen a rise in popularity due to the fact that it is giving away LOOK tokens for anyone who spends at least three ether on Opensea. Opensea’s leading NFT market does not offer a native token, so there is no official association for some of the tokens.
Dappradar.com’s NFT marketplace data indicates that the average sale on Looksrare at the time of writing is $108K per unit. Meanwhile, other top NFT markets today include Solana’s Magic Eden with $9.48 million in sales, and Mobox, with $1.29 million in sales. While Looksrare’s volume saw the biggest 24-hour percentage gains, Mobox saw an 87.08% increase.
Are you a fan of the NFT Marketplace Looks Rare? Comment below and let us know how you feel about the subject.
Images Credits: Shutterstock, Pixabay, Wiki Commons, Opensea, Looksrare,
DisclaimerThis article serves informational purposes. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. The author and the company are not responsible for any loss or damage caused by the content or use of any goods, services, or information mentioned in the article.