🔔 MARKET MOVING NEWS! (09/06/25)
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1️⃣ Opensea Hits Highest Monthly Users Since 2023 As OS2 Exits Beta 🔼
NFT marketplace OpenSea reportedly recorded 467,322 active users in May, its largest active monthly user base since mid-2023. Data from Dune Analytics also shows that the number of active users till date in June stands at 236,091, hinting that this month may see a similar or even higher number of monthly active users.
However, despite the elevated number of active users, monthly trade volume on the NFT platform remains significantly below 2021 and early 2022 levels. For context, May 2025 had a volume of $81 million, while January 2022 had a peak monthly volume of over $5 billion. This suggests that the surge in active users is likely due to the official launch of OS2 and its new “Voyages” rewards program on May 29.
2️⃣ Sui DEX Restarts, Plots Open-Source Move After Massive Exploit ‼️
Sui DEX Cetus Protocol announced its relaunch on Sunday. The team restored the platform to full functionality and replenished affected pools with 85% to 99% of their original liquidity. It is now working on going open-source, with a new white bounty program, to “encourage collective technical and security contributions.” The team has set aside 15% of the protocol’s native token (CETUS) supply as part of a compensation plan for affected users. Specifically, 5% of the CETUS supply will be available to claim immediately and 10% linearly unlocked every month over the next year, starting June 10. Cetus also reassured users that it was pursuing legal action against the attacker, with legal proceedings launched in “multiple jurisdictions” and law enforcement agencies “actively involved.”
3️⃣ Bitcoin Network Transaction Activity Reaches Lowest Level Since Oct. 2023 🔽
Transaction activity on the Bitcoin Network has reportedly fallen to a level not seen since October 2023. Data from The Block shows that the seven-day moving average for transactions on the Bitcoin network fell to around 317,000 on Friday. This is second only to the previous low of 269,000 seen in October 2023. The low transaction activity has some miners looking for transactions paying below the typical relay floor of 1 sat/vB, Bitcoin Core's default relay floor. Mempool founder Mononaut noted that a transaction with a near-zero fee was recently mined into a block.
4️⃣ Coinbase Says It’s Tackling Frozen Accounts In ‘Major Issue’ 🥶
Crypto exchange Coinbase has reportedly reduced unnecessary user account freezing by 82%. CEO Brian Armstrong acknowledged that account freezing has been a major problem “for longer than is acceptable.” He claimed the issue has become a top priority for his firm to improve. For context, Coinbase users have expressed frustration over account restrictions for years. Users reported that account freezes have lasted several months or longer, prompting some to abandon the platform. Given the recent confidence crisis in the exchange due to a mass data breach, the team appears to be working on issues that help with user retention.
