Bitcoin Surges as Second-Largest NFT Chain

Bitcoin Surges as Second-Largest NFT Chain


Bitcoin’s non-fungible tokens, known as Ordinals, are gaining popularity as the top choice for NFT minting, surpassing popular blockchains like Solana, Mythos, and Polygon in trading volume in the last 30 days.

Data shows that the volume of trading of Bitcoin (BTC) non-fungible crypto tokens surpassed that of trending blockchains teck like Solana (SOL) Mythos, and Polygon in the last 30 days. BTC’s new fame in digital collectibles can be attributed to the present ordinals and BRC-20 crypto token standard trend.

Although while Ethereum (ETH) and other blockchains teck have ruled the digital collectibles space over the years, the growing popularity of ordinals and the BRC-20 crypto token standard is fast bringing a paradigm shift in the multi- Billion dollar non-fungible crypto token (NFT) ecosystem.

Reports by data released by CryptoSlam, an Non-Fungible Token (NFT) industry data aggregator, the Bitcoin (BTC) blockchain tech has resurfaced as the most trending chain for Non-Fungible Token (NFT) minting in the last 30 days, surpassing leading networks such as Polygon, Cardano (ADA), Solana (SOL) and others.

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Nevertheless Ethereum (ETH) remains the number one chain for Non-Fungible Token (NFT) market participants, with a sales volume of $392,218,651 betwixt April 23 to May 23, Bitcoin (BTC) accounted for the second- largest digital collectibles sales volume ($171,473,301) during the same period.

Ordinals bringing new use cases to bitcoin 

It’s no news that Satoshi Nakamoto, arguably the father of modern blockchain tech, created the Bitcoin (BTC) network to power a decentralized financial system immune to hyperinflation and crisis.

Nonetheless, the past few launch of the BRC-20 crypto token standard by Domo, a pseudonymous programmer, is paving the way for more groundbreaking use cases of the Bitcoin (BTC) network, including Non-Fungible Token (NFT) minting.

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Bitcoin-based Non-Fungible Token (NFTs), popularly known as Ordinals, have become the hottest properties in digital collectibles, regardless of the ongoing debate that this new tendency could be bad for the network in the long run.

In the previous day, a total of $3,526,237 worth of ordinals has exchanged hands, representing a 21.43 percent increase within that timeframe, reports by CryptoSlam.

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