NFT In mainstream in 2021, OpenSea was the leading and largest NFT marketplace, where you could buy, sell, and create NFTs. Ethereum When polygon Blockchain network.
OpenSea continues to evolve, while other marketplaces such as LookRare are entering the NFT market. addition A new chain.
Looks rare NFT Marketplace Release On January 10th, he displayed an impressive number with the native token LOOKS, claiming:
“The community’s first NFT marketplace that actively rewards participating traders, collectors and creators”
LookRare and OpenSea numbers details
The analysis of this comparison between the two marketplaces is by Dune Analytics. data..
First, let’s take a look at LooksRare’s daily transactions. The most common were 3,964 transactions on January 11, 2,032 transactions on January 19, and 1,522 transactions on January 26, with a 25% drawdown from January 19 and 61% from the top. It was a drawdown. Graph below:
Now, when compared to OpenSea since the release of LooksRare, as shown in the chart below, the majority of transactions per day exceeded 100,000, with a maximum of 178,659 transactions per day on January 15th. ..
The second dataset analyzed was daily users. As shown in the graph below, there were 3,540 people on January 11, 2,210 people on January 19, and 1,838 people on January 26, with drawdowns of 16.8% from January 19 and 48% from the top. .. :
Now, when compared to OpenSea since the release of LooksRare, as shown in the graph below, the majority of users per day on January 15th exceeded 50,000, up to 75,529.
The last comparison was the volume of the day, which is where things get interesting. LookRare has surpassed OpenSea every day since its launch, with the highest daily volume of $ 842 million on January 19th, with OpenSea at $ 202 million. On January 26th, LooksRare was $ 591 million and OpenSea was $ 273 million.
As shown in the graph below, LooksRare decreased by 38% and OpenSea increased by 35% in 7 days.
by dataA portion of LooksRare’s daily trading volume looks like a wash trade volume, where investors buy and sell assets at the same time, causing confusion and doing some sort of market manipulation by inflating trading volumes.
What’s happening at LOOKS prices?
LookRare native tokens have been trading at $ 3.824, down 0.4% in the last 24 hours. As shown in the graph below, LOOKS is still down about 45% from its January 20 high of $ 7.02.
According to CoinGecko, the cryptocurrency has a market capitalization of $ 685.2 million, making it 111’s largest cryptocurrency.
In the last 7 days, both numbers and LOOKS prices don’t seem to look as good as anyone might have imagined in this new NFT marketplace...
It’s been less than a month since LookRare was released, but the numbers are spoken and LooksRare seems to be on a downtrend, not a big competitor to OpenSea, but over time.
this article Originally posted on FX Empire
