OpenSea Records Surge in Monthly Users

OpenSea, a prominent nft marketplace, recorded its highest monthly active user count since mid-2023 in May 2025. According to data from Dune Analytics, 467,322 users conducted one or more transactions on the platform during the month. This figure aligns with user activity levels observed between mid-2022 and early 2023. Early indications for June 2025 suggest that user engagement remains strong, with current active users reported at 236,091, potentially matching or surpassing May’s numbers.

OpenSea Records Surge in Monthly Users

OpenSea Records Surge in Monthly Users

The increase in users coincides with the full launch of OpenSea’s updated platform, OS2, which exited beta on May 29, 2025. The OS2 beta phase had been available since January 27, 2025, initially limited to holders of Gemesis NFTs, a collection of 94,757 tokens created by OpenSea in April 2023.

With the full release, OS2 enables users to trade tokens and nfts across 19 different blockchain networks, including support for fungible tokens on Solana. A notable addition is the Voyages rewards system, which allows users to earn experience points (XP) through on-chain activities, aiming to increase engagement on the platform.

OpenSea Records Surge in Monthly Users

Anticipation Builds Around SEA Token Launch

Alongside these developments, OpenSea has announced plans to launch its native token, SEA. Although a specific launch date has not been provided, platform officials have suggested that several key features and innovations need to be in place before the token is introduced.

OpenSea’s Chief Marketing Officer, Adam Hollander, indicated in a recent blog post that the team is working to ensure the token will have sustained utility and relevance. The potential for future rewards linked to platform engagement has raised user expectations for an airdrop of SEA tokens, contributing to the recent increase in active users.

OpenSea Records Surge in Monthly Users

Trade Volume Remains Below Peak Market Levels

Despite the rise in active users, OpenSea’s monthly trade volume has not approached the high levels seen during the peak of the nft market in 2021 and early 2022. In May 2025, the platform recorded $81 million in trade volume, significantly lower than the over $5 billion monthly volume reported in January 2022. This gap reflects broader market trends, as the nft sector continues to experience a period of adjustment following its earlier surge.

Final Thoughtss

OpenSea’s user base growth following the OS2 launch marks a significant moment for the nft marketplace amid a challenging market environment. While trade volumes remain subdued compared to previous years, the platform’s expanded features and upcoming token launch reflect ongoing efforts to adapt and maintain engagement in the evolving web3 ecosystem.