CryptoSlate examined Glassnode data to assess OpenSea’s performance in 2022 and found that its market share had decreased from 50% in January to 33%.
According to Cryptoslate, OpenSea accounted for 20% of all Ethereum (ETH) gas usage at the start of the year. Throughout the year, this percentage decreased to 9%. The number of NFT transfers in the market fell by 25% in 2022.
According to Cointelegraph, the data shows that OpenSea had about 80,000 transfers at the beginning of the year and gradually decreased throughout. Around 60,000 transfers were being handled by OpenSea as of December 31, a 25% drop in volume.
The metric for measuring the relative amount of gas used by the Ethereum network as a result of transactions interacting with NFTs calculates a percentage share.
(With insights from Cryptoslate)