- The Blur protocol has seen a massive spike in its TVL as more people become interested in the protocol.
- OpenSea has been able to outperform Blur in terms of daily activity, despite the growth of Blur.
- The success of blue chip NFTs such as BAYC and MAYC have helped contribute to the growth of both marketplaces.
This article discusses the recent growth seen by the Blur protocol and how it has impacted OpenSea’s market dominance. It also highlights how successful blue chip NFTs such as BAYC and MAYC have contributed to this growth.
Blur’s TVL Witnessed a Huge Spike
Delphi Digital reported that the TVL for Blur managed to reach an all-time high over the last month. Despite this, OpenSea was still able to have more daily active users on its network, as per Token Terminal’s data. It is hypothesized that wash trading might be playing a role in Blur lagging behind in this area.
OpenSea Outperforming Blur
At press time, OpenSea managed to capture 46.1% of all NFT trades made in the ecosystem, with Blur coming in at second place with 42.5%. This indicates that both platforms are experiencing considerable amounts of growth due to their success in marketing blue chip NFTs.
MAYC Collection Doing Well
According to data provided by NFTGO, it can be observed that the average price of the MAYC collection increased by 10.73% over the last three months while its volume went up by 222.79% within 24 hours. This indicates strong demand for these collections within the community.
APE Token Struggling
Unfortunately, not all tokens related to blue chip NFTs are doing well – like APE token associated with MAYC collection which saw its price fall significantly along with its network growth over last month which implies lack of interest from new addresses towards APE token according to Santiment’s data .