NFTs are non-fungible tokens that come in the form of a variety of different digital assets and have verifiable ownership through the blockchain. So what does volume traded mean on opensea and is Opensea accessible in China? Let’s find out by reading this article.
What Is the Volume of Trade?
Volume is the total amount of stocks or contracts traded for a particular security. It can be measured on any type of security traded during the trading day. Trading volume or volume is measured in stocks, bonds, options contracts, futures contracts and all types of commodities.
What does volume traded mean on opensea?
In nft, transaction volume is expressed in Ethereum (ETH). ETH is the basic unit that describes the collective value of NFTs. This means that an nft of ETH represents fractional ownership of that collection of NFTs.
Here is an example:
If a buyer buys an nft for 100 ETH and sells the same nft for 50 ETH. Then another buyer buys the same nft for 200 ETH and sells 100 ETH to another buyer.
Is OpenSea accessible in China?
In April, China’s top financial industry association proposed that NFTs should not be used for securitization; nor should they be traded with the country’s banned cryptocurrencies. These recommendations effectively rule out the existence of global NFT marketplaces such as China’s OpenSea.
I hope this article will help you to learn what does volume traded mean on opensea and whether opensea is accessible in China. NFT volume refers to the amount of ETH belonging to a given NFT collection that is traded per day. Trading volume figures are considered high when a given set of NFTs is more actively traded, and vice versa. Higher volumes are a sign of better order execution and higher liquidity.
