OpenSea, a popular non-fungible token NFT marketplace, has hit a new all-time high in monthly ethereum trading volume, soaring to the $3.5 billion mark, according to data from Dune Analytics.
With two weeks to go until the end of the month, OpenSea volumes have now surpassed the previous record of $3.42 billion set in August last year and the $3.24 billion in December sales.
To date, OpenSea’s January daily volume has surpassed $169 million, with the platform’s largest single-day volume at $261 million recorded on January 9.
NFTs are cryptographically unique digital tokens that provide proof of ownership for a variety of tangible items that can be stored digitally and have a variety of use cases, including artwork, digital collectibles, music, and items in video games.
The latest boom in activity from industry-leading NFT marketplace OpenSea comes as the larger crypto market stalls in recent weeks. Bitcoin is down 7.5% since the start of the year.