OpenSea’s OS2 Platform Fuels Ethereum NFT Resurgence: Shift from Speculation to Utility

The NFT market is experiencing a resurgence, fueled by OpenSea’s new OS2 platform and its focus on utility over speculation. This comes with a surge in trading activity among Ethereum-based NFTs, reaching levels seen in 2022. OpenSea now holds over 70% of the market share, thanks to the OS2 upgrade, which features enhanced cross-chain trading capabilities. This shift is driving user growth, with a notable increase in the number of active traders, exceeding 40,000 users.