Data shows that the volumeย ofย trading of Bitcoinย (BTC) non-fungible cryptoย tokens surpassed that of trending blockchainsย teck like Solanaย (SOL) Mythos, and Polygon in the last 30ย days. BTCโs new fame in digital collectibles can be attributed to theย present ordinals and BRC-20 cryptoย token standard trend.
Althoughย while Ethereumย (ETH) and other blockchainsย teck have ruled the digital collectibles space over the years, the growing popularity of ordinals and the BRC-20 cryptoย token standard is fast bringing a paradigm shift in the multi- Billion dollar non-fungible cryptoย token (NFT) ecosystem.
Reportsย by data released by CryptoSlam, an Non-Fungibleย Tokenย (NFT) industry data aggregator, the Bitcoinย (BTC) blockchainย tech has resurfaced as the most trending chain for Non-Fungibleย Tokenย (NFT) minting in the last 30ย days, surpassing leading networks such as Polygon, Cardanoย (ADA), Solanaย (SOL) and others.
Nevertheless Ethereumย (ETH) remains the number one chain for Non-Fungibleย Tokenย (NFT) market participants, with a sales volume of $392,218,651 betwixt April 23 to May 23, Bitcoinย (BTC) accounted for the second- largest digital collectibles sales volume ($171,473,301) during the same period.
Ordinals bringing new use cases to bitcoinย
Itโs no news that Satoshi Nakamoto, arguably the father of modern blockchainย tech, created the Bitcoinย (BTC) network to power a decentralized financial system immune to hyperinflation and crisis.
Nonetheless, theย pastย few launch of the BRC-20 cryptoย token standard by Domo, a pseudonymous programmer, is paving the way for more groundbreaking use cases of the Bitcoinย (BTC) network, including Non-Fungibleย Tokenย (NFT) minting.
Bitcoin-based Non-Fungibleย Tokenย (NFTs), popularly known as Ordinals, have become the hottest properties in digital collectibles, regardlessย of the ongoing debate that this new tendency couldย be bad for the network in the long run.
In theย previousย day, a total of $3,526,237 worth of ordinals has exchanged hands, representing a 21.43 percent increase within that timeframe, reportsย by CryptoSlam.
