OpenSea Competition, NEAR Outperformance, & Short-Term Capitulation
JAN 12, 2022 • 4 Min Read
Genevieve Yeoh + 1 other
DISCLOSURE: DELPHI VENTURES HAS INVESTED IN BTC, LUNA, ETH, SOL AND AVAX. MEMBERS OF OUR TEAM ALSO H
OpenSea Faces Competition from LooksRare
- LooksRare launched yesterday with a surprise airdrop to users who traded at least 3 ETH in volume on OpenSea. Day 1 of LooksRare’s activity shows that its volume was comparable to OpenSea during certain hours of the day, with two peaks of $4.5M hourly volume. That may be attributed to trading reward incentives given to collections that hit >1000 ETH in volume. Wash trading to earn trading rewards seems to be rampant on the platform now, as evidenced by the unusually high sales and prices on NFTs eligible for reward incentives.
- Only time will t
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Genevieve Yeoh + 1 other
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