Alt Coin

OpenSea Rival Surges 55% in Just Four Days, Shattering $500,000,000 Market Cap

A brand new entrant into the non-fungible token (NFT) market sector has seen its price and market cap explode this week.

The OpenSea rival LooksRare launched on January tenth, and the undertaking’s native asset LOOKS has already surged in price by almost 55%.

The token, which was listed by the alternate OKEx on Wednesday, is at the moment buying and selling at $4.10.

LooksRare’s market cap additionally briefly exceeded $500 million on Thursday, although it has since settled to about $478 million, already rating it 179th amongst all crypto initiatives.

The undertaking, which payments itself as “by NFT People, for NFT People,” says its market indexes all NFT collections on the Ethereum blockchain, that means merchants can entry all of the NFTs out there on OpeanSea and different marketplaces.

Data from blockchain analysis instrument Dune Analytics signifies LooksRare has been dominating the NFT area in phrases of buying and selling quantity since its launch. The fledgling market hosted greater than $551 million in buying and selling quantity on Thursday, a greater than 6x benefit in comparison with OpenSea’s roughly $88 million on the identical day.

In whole, since LooksRare launched on Monday, it has hosted greater than $1.37 billion in whole quantity, in comparison with OpenSea, which hosted about $281.7 million over the identical interval.

OpeanSea reached a valuation of $13.3 billion final week after buyers injected extra capital throughout its newest spherical of funding.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl should not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any loses it’s possible you’ll incur are your duty. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Daily Hodl an funding advisor. Please observe that The Daily Hodl participates in online marketing.

Featured Image: Shutterstock/Hanna Gottschalk/Natalia Siiatovskaia

Related posts

Here’s What’s Next for Cardano (ADA), Polkadot (DOT), Terra (LUNA) and Four Additional Altcoins, According to Top Crypto Trader

Crypto Advisor

Ethereum Challenger Primed for Huge Breakout as One Under-the-Radar Altcoin Gears Up for Rally, According to Popular Crypto Analyst

Crypto Advisor

NFT and Decentralized Finance Altcoin Explodes Nearly 100% in Days Following Hints of Airdrop

Crypto Advisor

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More