The Coinbase NFT market records $100K in daily sales after a slow start with less than 900 transactions since the beta launch last week so let’s read more today in our latest Coinbase news.
The coinbase NFT marketplace was long-anticipated but now it is fully live and only a few can access it which led to a few sales in the first week. The platform saw a little over 900 total transactions and amounted to 104.5 ETH in volume traded. A third of this volume occurred on Thursday with the Coinbase NFT market seeing $100,000 in volume in one day.
According to dune Analytics data, there are about 681 total users on the paltform and including 282 unique sellers and 464 unique buyers but since the launch, the site added another 100 new accounts each day. Moonbrids is at the top trending collection and surpassed bored Ape Yacht CLub, Mutant Apes, and VeeFriends. Most of the users seem to be prominent and the NFT Twitter influencers were also officially verified by Coinbase. The OpenSea market saw a $94.8 million volume traded on Thursday and has over 1.6 million users that made at least one transaction since joining the platform.
The contrast is stark since Coinbase’s NFT marketplace is in closed beta which means that you can not sign up and start boosting the trading volume while there are 4 million on the platform’s waitlist. All users now require an invite code in order to make an account on the site but anyone can explore the site freely without one but won’t be able to buy and sell anything. The NFT Marketplace launch has not been exciting for coinbase investors while its stock fell to an all-time low last week, a few days after the Beta launch of Coinbase NFT.
As recently reported, Coinbase listed Binance’s stablecoin BUSD which is the fourth largest stablecoin by market cap now available for trading on the Ethereum network. BUSD makes the eight stablecoin to be offered by Coinbase and joined Tether, USD Coin, DAI, Paxos Standard, TerrraUSD, Rai Reflex Index, and stable USD. BUSD is Binance’s stablecoin project was created in partnership with Paxos that custodies the coin’s reserves and at the time of writing, BUSD was the 10th most popular of the 172 assets on Coinbase.
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