Leading NFT marketplace OpenSea saw the highest number of active users since mid-2023 last month, but the trade volume remains far below the previous market peaks.
OpenSea reaches the highest number of users since 2023
According to data from Dune Analytics, 467,322 users performed at least one transaction in May on OpenSea, comparable to the peak period of the Platform Mid 2022 Begin 2023. June has already achieved more than 236,000 active users, which suggests the momentum.
However, the trade volume is still far from the record levels of 2021 and early 2022. In May 2025, OpenSea registered the monthly trade volume of $ 81 million, well below the record volume of more than $ 5 billion in January 2022.
The increase in the number of active users is largely attributed to the official release of the new version of OpenSea, OS2, on 29 May. The beta period was only open to Nettstenis NFT holders (a collection of 94,757 NFTs that were mined in April 2023) and was aimed at testing the new functions of the platform.
The Beta phase of OS2 started on January 27, 2025 and is now fully operational.
With the new release, OpenSea users can now exchange NFTs and tokens on 19 different block chains, including the fungi tokens of Solana.
The platform has also announced a new reward system called Voyages, with which users can earn XP (experience points) based on their activities on chains.
In addition to these developments, there is also anticipation within the community of a possible airdrop of the indigenous token of OpenSea, sea. However, no official date has yet been announced.
“I know you all ask” When is the TGE? “(When is the token released?),” Said Adam Hollander, OpenSea CMO, “but we have many surprises for us, new launches and innovations.
Although the revival of OpenSea of his user base in this new era is remarkable, it seems that the NFT market still needs time to reduce its total transaction volume to earlier levels.
*This is not investment advice.