OpenSea Reports 467,322 Active Users in May, Highest Since Mid-2023
OpenSea User Activity Surge
OpenSea reported 467,322 active users in May, the highest since mid-2023. This increase aligns with user expectations for rewards following the launch of OS2.
- OS2 launched a private beta in January 2025 for Genesis NFT holders.
- Features include new traits and explore tabs, enhanced sorting tools, and feedback mechanisms.
- OS2 open beta began in February, introducing cross-chain trading and a new rewards system called XP.
- Active users projected to remain high in June, currently at 236,091.
- Monthly trading volume still significantly lower than 2021 and early 2022 levels.
- January 2022's peak was over $5 billion; May 2025 recorded only $81 million.
User Concerns Over Airdrop Mechanism
Users anticipate an airdrop of OpenSea’s native SEA token but express dissatisfaction with the XP system. Criticisms include:
- XP system perceived as unfavorable for developers.
- Encourages wash trading and prioritizes fee generation over genuine engagement.
A community member referred to the situation as “Blur farming on steroids,” highlighting risks associated with high-frequency trading practices.