In May, NFT-marketplace OpenSea recorded record activity for the last two years, the number of unique users with transactions reached 467.3 thousand. This is the maximum since the middle of 2023.
User Base Returns Amid Declining Volumes
In May, NFT marketplace OpenSea recorded its highest activity in the past two years, with the number of unique users executing transactions reaching 467,300 — the highest since mid-2023. Experts believe a new record might be set in June, as over 236,000 active accounts were already recorded during the first third of the month. One of the key drivers behind this surge in activity was the release of the platform’s updated version, OS2.
According to Dune Analytics, the number of active OpenSea users in May returned to early 2023 levels. However, trading volumes remain far below peak values: in May, users executed $81 million worth of transactions, while in January 2022, the trading volume surpassed $5 billion.
Full Launch of OpenSea OS2
The new version of OpenSea exited beta on May 29. It expanded the platform’s functionality, now supporting trading of tokens and NFTs across 19 blockchains, including support for Solana network fungible tokens. A new rewards system named Voyages was also introduced, allowing users to earn XP for on-chain activity.
Testing of OS2 initially began on January 27 in a closed format, accessible only to holders of the Gemesis NFT collection released by OpenSea in April 2023.
Anticipation of the SEA Token Fuels Engagement
Following the OS2 launch, users began participating more actively on the platform, anticipating a potential upcoming airdrop of the SEA token. Although OpenSea has not officially announced a Token Generation Event (TGE) date, the project team previously confirmed plans to launch a token.
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