OKX NFT Marketplace Surges Past Blur and OpenSea With Bitcoin Ordinals Trading

OKX NFT Marketplace Surges Past Blur and OpenSea With Bitcoin Ordinals Trading

OKX's non-fungible token (NFT) platform has outperformed prominent rivals like OpenSea, Blur, and Magic Eden in terms of 24-hour trading volume. According to DappRadar, on December 18, the OKX NFT Marketplace recorded a staggering $50 million in daily trading volume.

Although the platform's trading volume has since declined to $35 million, it still outshines its competitors. The combined 24-hour trading volume of Blur, Magic Eden, and OpenSea stands at a mere $24 million, highlighting OKX's dominance in the NFT space.

The surge in OKX NFT Marketplace's trading volume can be attributed to its introduction of Bitcoin Ordinals trading. According to CryptoSlam, the Bitcoin network eclipsed both Ethereum and Solana in terms of NFT sales volume, reaching a staggering $404 million over the past 7 days. Meanwhile, Solana managed over $95 million in sales volume while Ethereum, once the leading blockchain for NFT trade volumes, saw $90 million.

This development coincides with a broader resurgence in the NFT market, with the collective volume approaching $1 billion in November. During that month, the average value of NFT transactions witnessed a significant 114% increase, rising from $126 to $270, indicating a growing willingness among users to engage in higher-value trades.

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