Blue-chip NFTs Sold Off as Investors Move to Bitcoin NFTs, Sales Quadruple

Blue-chip NFTs Sold Off as Investors Move to Bitcoin NFTs, Sales Quadruple

The Rise of Bitcoin Ordinals in the NFT Market

Recently, the non-fungible token market has seen significant growth and has caught the attention of businesses, institutions, and crypto investors. One of the projects that have gained momentum is the Bitcoin Ordinals, which operates on the Bitcoin blockchain network. They have experienced a surge in sales, surpassing Ethereum NFT sales for the first time in the short history of crypto.

Bitcoin Ordinals Sales Surge

According to data from, a market aggregator, Bitcoin Ordinals have seen a four-fold increase in sales volume in the past 24 hours, reaching $31 million. This surge has outperformed Ethereum-based NFTs, which only recorded a trading volume of $7.7 million during the same period. It is evident that many NFT investors have shifted their focus from Ethereum NFTs to Bitcoin Ordinals.

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The top-selling NFT collections currently consist of Bitcoin-based NFTs, including the Van Gogh NFT collection, which leads the category with a trading volume of $4.3 million. Additionally, BRC-20 NFT collections, such as $SAT, $RAT, and $BTCs, dominate the subsequent nine ranks. Meanwhile, blue-chip NFTs have lost their initial hype, with collections like Bored Ape Yacht Club and Mutant Ape Yacht Club experiencing a decline in sales volume.

Hot Take: The Changing Landscape of NFT Sales

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The shift of focus from Ethereum-based NFTs to Bitcoin Ordinals signals a changing landscape in the NFT market. As Bitcoin-based NFTs continue to gain momentum, the once dominant Ethereum NFTs are facing tough competition. This shift may lead to a new era of dominance for Bitcoin-based NFTs and could reshape the future of the NFT market as a whole.

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Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.