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December Sees Record $881,223,753 in Sales of Bitcoin-Based NFTs: On-Chain Data Reveals

December Sees Record $881,223,753 in Sales of Bitcoin-Based NFTs: On-Chain Data Reveals

Bitcoin NFTs Set Record Sales on the Blockchain

Non-fungible tokens (NFTs) built on the Bitcoin blockchain experienced a surge in sales during December, reaching a record-breaking $881 million, according to on-chain data. This figure surpassed the previous month’s sales record of $375 million. Blockchain reporter Colin Wu noted that December marked the highest sales month to date for BTC-based NFTs, with over 111,000 buyer addresses and 98,000 seller addresses involved. Bitcoin NFTs, also known as Ordinals, enable unique data like images or videos to be attached directly to individual satoshis. The CEO of OKX cryptocurrency exchange expressed consideration for listing more Bitcoin pairs due to the significant increase in BRC-20 token market capitalization.

Concerns Over Listing More Ordinals

In a recent thread, OKX CEO Star Xu revealed that he has received requests to list more ordinals on the exchange but expressed concerns that doing so could potentially harm the market. Despite the growing popularity of these Bitcoin-based NFTs, Xu is cautious about their impact and potential consequences.

Hot Take: Bitcoin NFT Sales Reach All-Time High

In December, Bitcoin-based NFT sales skyrocketed to an unprecedented $881 million, setting a new record for single-month sales. These NFTs offer a unique way to attach exclusive data directly onto individual satoshis. While there is increasing demand for listing more ordinals on exchanges like OKX, concerns exist about potential market disruptions. The surge in Bitcoin NFT sales demonstrates the growing interest in this space and highlights the value placed on digital collectibles built on the Bitcoin blockchain.

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December Sees Record $881,223,753 in Sales of Bitcoin-Based NFTs: On-Chain Data Reveals