OpenSea has regained its position as the dominant marketplace for Ethereum NFTs after seeing a significant decline in market share in recent months. Once dominating the space with an impressive 97% share of trading volume at its peak, it now holds over 51%. However, this resurgence is largely attributed to Blur’s struggles rather than OpenSea’s own growth. Blur, which hit its peak in December 2024, has seen a steady decline in trading volume averaging 55% drop each month since then. Meanwhile, OpenSea’s trading volume has fluctuated, with a significant 48% decrease from December to January followed by a 20% increase in February, possibly driven by the platform’s new SEA token announcement. However, both platforms faced significant drops in March: OpenSea’s saw a 67% decline and Blur’s a 62%. This indicates that both platforms are facing substantial challenges. 1. In parallel, the overall NFT market is experiencing a downturn. Investor interest, user activity, and transaction volume have all declined, making it difficult for any platform to maintain strong performance. 2. While OpenSea’s market share growth appears promising, it must be considered alongside the shrinking market itself as a whole. 3. Major companies are withdrawing from the NFT market due to declining demand and regulatory uncertainty. From tech giant LG shutting down its Art Lab NFT platform to organizations like Tennis Australia, DraftKings, Nike’s RTFKT, Bybit closing down their NFT markets, the NFT space is witnessing a significant shift. This downturn reflects changing market dynamics and underscores the volatile nature of this emerging technology.