Bitcoin Takes the NFT Market by Storm, Securing Second Place Amongst 20 Blockchain Competitors

Bitcoin Takes the NFT Market by Storm, Securing Second Place Amongst 20 Blockchain Competitors


Recent data reveals that Bitcoin-based NFT sales have surged to $173.28 million in the past month, securing the second position in blockchain sales, surpassing 20 alternative blockchain networks, with only Ethereum reigning supreme.

In the past 30 days, recent data outlines that sales of non-fungible crypto tokens (NFTs) originating from the Bitcoin (BTC) blockchain tech have surged to $173.28 Million. Surpassing 20 alternative blockchain tech networks, Bitcoin-based Non-Fungible Token (NFT) sales now secure the Second position in the realm of blockchain tech sales, with only Ethereum (ETH) reigning supreme.

Bitcoin-Based Non-Fungible Token (NFTs) Storm the Market, Surpassing 20 Blockchain Tech Competitors

Amidst the fervor surrounding the Ordinal inscription tendency, Bitcoin-based Non-Fungible Token (NFTs) have skyrocketed in popularity. The sales amassed in the previous 30 days firmly established the network as the second- largest in terms of sales within this time frame. Although while Ethereum (ETH) Non-Fungible Token (NFT) sales saw $392.23 Million, this past 30 days Bitcoin (BTC) sales tallied up to $173.28 Million, up 408.29 percent from the 30 days prior.

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Bitcoin Takes the NFT Market by Storm, Securing Second Place Amongst 20 Blockchain Competitors

Nonetheless, there has been a whole lot of 47 percent decline in the number of buyers for Bitcoin-based Non-Fungible Token (NFTs), totaling 6,955 over the course of the past 30 days. Insights from cryptoslam.io data highlight that the leading Non-Fungible Token (NFT) collection, in terms of sales during this period, is the Bored Ape Yacht Club (BAYC).

Bitcoin Takes the NFT Market by Storm, Securing Second Place Amongst 20 Blockchain Competitors

The BAYC collection garnered $39,307,853 in sales in the previous 30 days, closely followed by the Ordi BRC20 Non-Fungible Token (NFTs), which amassed a slightly lower amount at $38,375,984. Noteworthy sales likewise transpired within other Bitcoin-centric Non-Fungible Token (NFT) collections, including uncategorized Ordinals, likewise as Space Pepes.

Bitcoin Takes the NFT Market by Storm, Securing Second Place Amongst 20 Blockchain Competitors

Sales from uncategorized Ordinals reached $23,508,299, while Space Pepes accumulated $12,247,480 in sales. In addition, the Bitcoin (BTC) Frogs Non-Fungible Token (NFT) collection hopped its way to $9,849,639, while $NALS Non-Fungible Token (NFTs) secured around $6,818,592 in sales in the previous 30 days. The Bitcoin (BTC) blockchain tech took center stage as the birthplace of the top 5 most expensive Non-Fungible Token (NFT) transactions during this period.

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These included a $4.5 Million sale of a Space Pepe, likewise as 3 uncategorized Ordinals that fetched prices exceeding a Million dollars each. A Bitamigos Non-Fungible Token (NFT), for its part, commanded a $1.3 Million price tag. It is likewise worth keeping in mind that nine out of the top-priced Non-Fungible Token (NFTs) sold the previous  30 days were derived from Bitcoin.

As of May 24, 2023, the Bitcoin (BTC) blockchain tech has surpassed nine Million inscriptions, coinciding with the surge in Bitcoin-based Non-Fungible Token (NFT) sales. This tendency has rewarded miners with an estimated value of approximately 1,495 BTC or $40.27 Million since the emergence of inscriptions on the chain.

At the beginning, skepticism surrounded the  potential of Bitcoin (BTC) to generate sufficient Non-Fungible Token (NFT) activity to rival prominent Non-Fungible Token (NFT) blockchains teck such as Solana (SOL) and Polygon. Nonetheless, the oldest blockchain tech network in existence so far has demonstrated its prowess as a formidable competitor.

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