The new OS2 platform launch, and resolution of a U.S. Securities and Exchange Commission (SEC) investigation into its past operations has only added to its dominance. The platform’s rebirth comes amid a general market cool down of NFT sales volumes. OpenSea's strategic moves, including opening Solana trading access to all users, have solidified its position as a leading platform for NFT enthusiasts. Indeed, over the last 90 days OpenSea has brought in upwards of 2.1 million wallets, including 380,000 that are actively trading NFTs on a regular basis.
OS2 Platform Launch and User Engagement
Fourth quarter 2024, OpenSea released its new platform, OS2. This is a big change for their programming overall. OpenSea co-founder and CEO Devin Finzer said the company would:
"reimagine everything" - OpenSea co-founder and CEO Devin Finzer
In fact, the company has recently committed to a new major version of the platform arriving in December 2024. On February 13, OpenSea released the OS2 open beta. This new phase opens things up to everyone, following six months of private access for private beta users. Over 610,000 wallets have used the OpenSea platform.
Nearly 70% of all wallets that have transacted on an NFT used OpenSea in the last 30 days, showcasing its popularity. Over the past three months, an average of 380,000 wallets actively traded NFTs on the platform. In all, upwards of 2.1 million unique wallets transacted on OpenSea.
Solana Integration and Market Performance
Then on April 19, OpenSea opened its Solana trading access to everyone, making its debut across six total blockchains even wider. The company skipped a scheduled closed beta phase limited to 50,000 users for Solana trading, indicating a rapid deployment strategy.
Opensea remains at the top of the market, though the king is beginning to show signs of strain. Its sales volume tanked 61%, down from $4.1 billion over the same 2024 timeframe. OpenSea has led the way on 30-day NFT marketplace trading volume for several months now. They did it with only $20 million in sales for that whole period.
Regulatory Clarity and Market Position
On February 22, the U.S. Securities and Exchange Commission terminated its investigation into OpenSea, lifting a layer of uncertainty. This was a major development just as OpenSea was trying to re-establish its dominance in the market at a time when NFT sales volumes have significantly slowed.
OpenSea’s continued dominance, if it can hold on to that number one spot, would be a testament to its fortitude and creative response to a changing world. Through continuous innovation on its platform and expansion of its offerings, OpenSea continues to be the go-to marketplace for NFT trading and engagement.

Rohan Prasad
Crypto Feature Editor
Rohan Prasad delivers engaging, community-driven stories on crypto events, blending firsthand experience with expert commentary. Known for connecting with people across the ecosystem, he makes complex DeFi happenings accessible and fun. Outside of work, Rohan enjoys indie music and trekking in the Western Ghats.
Related

Cristiano Ronaldo and Binance Launch "Forever to the Moon" NFT Collection
Crypto exchange Binance and soccer star Cristiano Ronaldo have released “Forever to the Moon,” the sixth edition of their ongoing digital collectible partnership. This collaboration aims to bring the soccer superstar closer to his millions of fans and supporters via cutting-edge Web3 technology. Continuing the momentum of five prior successful...

ToiletDust Set to Launch NFT Collection and Brand in July
ToiletDust will launch its disruptive new NFT collection and brand at DIFC, Dubai, UAE. The minting will occur this July. This Web3-focused rollout represents an important and promising first step into the space from a major company. The purpose behind the collaborative launch is to combine the digital realm of...

Binance and Cristiano Ronaldo Launch "Forever to the Moon" NFT Collection
Binance and Cristiano Ronaldo, soccer’s biggest star, announced that “Forever to the Moon,” a Cristiano Ronaldo-inspired collection of digital collectibles, is now available. This collaboration is the sixth release in their long-standing collaboration. Collectively, they’re combining Web3 tech with the sports industry to turbocharge fan engagement. The special collection hopes...