OpenSea Active Users Don Go Up 44% After OS2 Upgrade, But NFT Trading Volume Still Low
OpenSea, wey be de biggest NFT market, see im biggest growth for monthly active addresses for over two years, with 44% increase to reach 467,322 users for May 2025, afta dem upgrade dia platform to OS2. Dis OS2 upgrade bring cross-token trading, wey make users fit trade both fungible and non-fungible tokens without need to bridge or swap, wey make user experience better well well. But even with dis big jump in user engagement, trade volume for OpenSea still low. Monthly trade volume only rise from $60 million for April go $81 million for May 2025, wey still far from dia $5 billion peak for 2022. Early June figures still show dis trend, recording only $24 million in volume. De wider NFT market too still dey weak, as industry leaders like Yuga Labs dey sell off collections like CryptoPunks and Moonbirds. Although de OS2 upgrade aim to wake up NFT activity, de increased engagement still no translate to big recovery for trade volumes. Traders suppose note say as technology don boost user numbers, sustained growth in transaction activity still limited, wey show say caution still dey for de NFT sector.
Neutral
Di OpenSea OS2 upgrade don make plenty active users come in, wey show say pipo get new interest and di platform don beta. But dis increase no really match di way trading volumes go up, dem still far down from wetin dem dey before. Di whole NFT market still dey careful, even big companies don dey sell some of dia holdings. So, di overall effect on NFT market feeling na neutral: even if di users dey increase because of new tech, we no see any sign of price go up or plenty money dey enter NFTs steady. Traders suppose dey watch out for any reaction wey go come late, but for now, di way dem dey trade no show say market go rise.