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Magic Eden Soars Past OpenSea In Terms Of Daily Trading Volume

  • Solana-based NFT market Magic Eden has actually topped OpenSea in regards to the everyday trading volume.
  • The market has actually reported almost 275,000 deals in the last 24 hours.

NFT market Magic Eden has actually topped OpenSea in regards to everyday deal volume. According to crypto market tracker CoinGecko, Magic Eden has actually reported approximately 275,000 everyday NFT deals, as compared to OpenSea, which has actually seen approximately 50,000 deals, in the past 24 hours

Magic Eden Reports 275,000 ETH NFT Transactions

Launched in 2019, Magic Eden is an NFT market constructed on the Solana blockchain. The market continues to control the NFT sector by rising previous OpenSea in regards to the day-to-day trading volume. According to the current information from DappRadar, the Solana-based NFT market has actually reported almost 2,75,000 NFT deals in the past 24 hours, as compared to OpenSea’s 50,000 deals.

This is not the very first time Magic Eden has actually gone beyond OpenSea in regards to everyday trade numbers. Previously in December 2021, the Solana-based market controlled the general NFT sector by reporting high everyday trading activity. At press time, Magic Eden had actually processed almost 297,000 deals with day-to-day trade volume going beyond $20 million.

Furthermore, the DappRadar information reveals that Magic Eden had actually performed NFT deals at a much greater rate than OpenSea, nevertheless, the Solana-based market has actually recorded lower sales statistics regardless of high deals due to the scarcity of blue-chip NFTs.

Built on the Solana blockchain, Magic Eden is among the leading NFT markets that allow users to mint and display their NFTs more cost-effectively. The network had actually previously launched its energy report, declaring that the networks take in far less energy than other blockchains leveraging just 0.00051 kilowatt-hour (kWh), or 1,836 Joules, of energy, while a typical Google search uses up 0.0003 kWh or 1,080 Joules of energy.

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