Is the NFT Trend Coming Back? The NFT Platform OpenSea Reached Its Highest Trading Volume in the Last 2 Years! Here Are the Details

The leading NFT marketplace OpenSea reached its highest number of active users since mid-2023 last month. However, the trading volume continues to lag significantly behind previous market peaks.

OpenSea User Count Reached Its Highest Level Since 2023

According to Dune Analytics data, in May, 467,322 users made at least one transaction on OpenSea. This level resembles the period of mid-2022 to early 2023, when the platform was at its busiest. June has already reached over 236,000 active users; this indicates that the momentum is continuing.

However, the trading volume is still far from the record levels at the beginning of 2021 and 2022.

In May 2025, OpenSea's monthly trading volume was recorded at $81 million. This is significantly below the record volume that exceeded $5 billion in January 2022.

The increase in the number of active users is largely attributed to the official release of OpenSea's new version, OS2, on May 29. The beta process was only open to Gemesis NFT holders, (Nisan a koleksiyon) of 94,757 NFTs minted in 2023, focused on testing new features of the platform.

The beta process of OS2 started on January 27, 2025, and now it is fully operational.

With the new version, OpenSea users can now perform NFT and token transactions across 19 different blockchains. This includes Solana's fungible tokens.

The platform also announced a new reward system called Voyages. With this system, users earn XP experience points based on on-chain activities.

In addition to these developments, there is ongoing anticipation within the community for a possible airdrop of OpenSea's native token SEA. However, no official date has been announced yet.

"I don't think you're all going to be like, 'wen TGE?' When will (token be released?) I know you're asking," said Adam Hollander, CMO of OpenSea, "But we have new launches and innovations ahead of us that are full of surprises. It is very important that these structures are in place before launching the token," he said.

Although OpenSea's revitalization of its user base in this new era is noteworthy, it still appears to need time to bring the overall trading volume of the NFT market back to its former levels.

*This is not investment advice.

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