The top two NFT marketplaces, OpenSea and Rarible, differ considerably in daily transaction volume.
Covalent’s latest findings in Cointelegraph Consulting’s biweekly newsletter indicate that the non-fungible token market has whales of its own.The largest user on the OpenSea makes up $192 million in reserve capital while the other users in the top 20% by value transacted only account for $8 million. Similarly, Rarible has a whale with $311 million in its wallet, and other top 20% active users collectively have $9.2 million. OpenSea describes itself as the largest NFT marketplace. Indeed, the firm is the market leader with over $153 million in NFT transactions facilitated across 97,072 different transfers since the beginning of 2021. The major competitor, Rarible, is a not-so-close second with $33,794,800 in NFT transactions across 37,630 transactions since the beginning of 2021. Cointelegraph Consulting’s bi-weekly roundup breaks down the trends in institutional demand for digital assets and capital allocation over the past two weeks. More than $750 million was raised across the top five financing rounds in two weeks, with Blockchain.com having the third-largest capital raise in the blockchain industry. Notably, NFT marketplace OpenSea closed a $23 million funding round led by a16z amid the NFT mania. We also congratulate our partner Covalent on closing a strategic funding round led by the industry heavyweights Hashed VC, Binance Labs, Coinbase Ventures and Delphi Digital. As for the other hot trends, the race for registering a Bitcoin (BTC) exchange-traded fund is in full swing with three more companies filing rule change applications with the United States Securities …
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