#CryptoMarketMoves Will OpenSea NFT Marketplace Recover from the SEC Probe After Falling Below $200 Million in 8 Consecutive Months

The NFT Market has been down over the past 20 months in large part to the effects of crypto winter.

Within the period, #OpenSea has struggled to maintain its lead as the largest NFT marketplace by all time sales volume.

X2Y2 came along in 2022 and Blur followed in 2023. Ever since the two became dominant, OpenSea has lost its place in the NFT world.

As of writing the NFT marketplace was trailing Blur. To add insult to injury, the SEC has targeted the digital art trading platform for selling unregistered securities.

OpenSea is on course to record less than $50 million in monthly volume for August.

Ethereum ($ETH ) leads the pack with top #nft sales on OpenSea.

Blur ($BLUR ) has been doing extremely well thanks to the more than $50 million it's parent platform has been recording as monthly volume.

Only time will tell if OpenSea will be impacted by the same negative effects Ripple ($XRP ) suffered in the hands of the SEC.