OpenSea, a prominent NFT marketplace, experienced a surge in active users following the launch of its major update, OS2, in May 2025. The platform now boasts a user count higher than it ever attained since before the March 2023 discord fork. Aside from the influx of new users, the uptick in trading volume, which has accelerated significantly, has been muted.
As of May 2025, OpenSea had 467,322 unique users who have made at least one transaction. This is consistent with our user activity seen in April 2023. The arrival of the OS2 update has ignited a new fire in the interest of the platform. It allows market participants to take part in fungible and non-fungible token trading activities.
To put that June figure into perspective, OpenSea has only 236,091 active users as of this writing. The marketplace’s trading volume is $24 million as of June 6. Though the number of users grew tremendously, the volume of trades has not increased with the same intensity.
The NFT marketplace’s past record trading volume was $5 billion back in early 2022. Today’s trading volume is a massive drop from this high tide. We have yet to see any indication of a trading volume resurgence this June.
By adding gugible token trading to the NFT mix, the platform could lure in an even wider audience to their social trading and education platform. As yet, there is no indication that this expansion is producing much, if any, additional trading volume. The marketplace is still watching how users navigate platforms and react with the new shortcode.
