Bitcoin Cements Position as the Second-Largest Network in NFT Market
Bitcoin is growing its influence in the bustling NFT arena.
The ever-evolving Bitcoin community continues to embrace the non-fungible token (NFT) wave, propelling Bitcoin to become the second-largest NFT network.
The data from CryptoSlam suggests that in the past 30 days alone, Bitcoin’s secondary markets have witnessed a staggering $168 million in NFT sales. While Ethereum still leads the pack with almost $396 million in sales during the same period.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer videos every week!
When compared to its closest competitors, Bitcoin’s accomplishments shine even brighter. Solana and Muthos Chain, in contrast, have recorded $55.8 million and $35.4 million in NFT sales over the past 30 days, placing Bitcoin firmly ahead in the competitive race.
Delving into the most coveted NFT collections within the Bitcoin realm, Bitcoin Ordinals claims the top spot. Over the last 30 days, it amassed $23 million in sales, securing its position as the fourth highest-selling project across all blockchains during that time span.
Following closely are the Space Pepes and Bitcoin Frogs projects, each garnering substantial interest. These collections have raked in $12.2 million and $9.5 million in sales over the past 30 days, respectively. These impressive figures rank them eleventh and fifteenth in the overall standings for the past month.
It is worth noting that at the beginning of May, the largest crypto exchange in terms of daily trading volumes, Binance revealed that its NFT Marketplace is set to add support to Bitcoin Ordinals at the end of the month.
The rise of Bitcoin as the second-largest NFT network attests to the evolving landscape of cryptocurrency and digital assets. This development underscores the burgeoning adoption and growing potential of NFTs within the Bitcoin ecosystem. As the digital asset market continues to expand and mature, Bitcoin’s role in the NFT space is undeniably set to influence the course of this exciting asset class.