CryptoSlate looked into Glassnode data to evaluate OpenSea’s performance in 2022 and revealed that the marketplace’s dominance fell to 33% from 50% in January.

At the beginning of the year, OpenSea corresponded to 20% of the total Ethereum (ETH) gas usage. This percentage declined throughout the year to see 9%. The marketplace’s NFT transfer count also recorded a 25% decrease in 2022.

NFT transactions by share
The chart below represents the number of transactions in the Ethereum network in relation to the transactions that interact with NFTs by calculating a share percentage.
This metric includes both ERC721 and ERC1155 token contract standards that transacted on major NFT marketplaces — OpenSea, LooksRare, Rarible, and SuperRare. The data starts from the beginning of the year and represents the shares of each NFT marketplace with a specific color.

NFT Transactions (Relative)
The pink areas represent the leading NFT marketplace OpenSea. It can be seen that OpenSea started th

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