- Blur’s NFT trading volume dropped 55% since December 2024 amid a shrinking NFT sector.
- OpenSea’s Ethereum market share surged past 51% following Blur’s continued volume declines.
- Despite OpenSea’s gains, Ethereum NFT trading volumes have fallen sharply across platforms.
Over the past three months, the NFT marketplace sector has experienced significant problems that have negatively affected its performance. During this particular period, both OpenSea and Blur experienced remarkable declines in their Ethereum NFT marketplace trading volumes.
The Ethereum NFT market was under OpenSea’s control at 97% throughout the first months of 2022.OpenSea lost its marketplace dominance between mid-2024 and the summer when its share fell below 20%, reaching its lowest point at 13%. OpenSea recovered its market position gradually throughout the period that followed. Research conducted in early April 2025 shows a market split of 51%, which belongs to this platform.
The company’s expanding market share does not translate into complete market recovery. Blur’s rise has occurred more because its platform shows weakness than because user engagement or trading activity has strengthened on OpenSea. The competitive market dynamics are evolving, as displayed by these metrics, instead of demonstrating market dominance in the sector.
NFT Market Volumes Continue to Decline Sharply
The entire NFT market sector recently entered a significant downturn phase. The trading volume on Blur slipped month after month, starting from December 2024, reaching an average decrease rate of 55% since then. OpenSea released a blend of results in its monthly statistics throughout 2024. After a 48% drop from December to January, OpenSea managed to recover 20% of its volume in February because of its announcement about the SEA token.
The two marketplaces sustained additional major losses during March. The company registered a 67% decline compared to the preceding month, and Blur experienced an almost identical drop of 62%. The NFT market downturn impacts all platforms, including these market-leading platforms.
Volume statistics of Ethereum NFTs have experienced a severe decline. The declining numbers indicate investors are becoming more cautious while demand weakens because both growing and well-established platforms feel the effects. The presented data highlights the intense problems confronting NFT marketplace operations.
Competitive Landscape Shifts but Broader Challenges Remain
OpenSea’s increasing market share reveals only bits of information about the complete state of the NFT industry. The majority share currently held by the company exists primarily from Blur’s rapid decrease instead of robust natural market expansion. The NFT market experiences difficulties stemming from user behaviour changes, declining prices, and transaction decline.
The market forces exert pressure on platforms that achieved success during the NFT boom from 2021 through 2022. The market distribution change requires the companies to manage reducing volumes and struggling user retention. Market share victories will not help the platform when market conditions remain poor and total transaction levels continue to decrease.
