Bitcoin’s NFT Sales Surge 190%, Reclaims Market Dominance

The global market for non-fungible tokens has begun to show renewed excitement as trading volumes have surged, along with increasing prices for digital collectibles. Bitcoin is at the forefront of this revival, experiencing a +190% increase in trading sales volume over the past 24 hours. This impressive growth has allowed Bitcoin to once again dominate the global NFT market, overtaking Ethereum.

Bitcoin Regains Dominance in the NFT Market

According to data compiled by cryptoslam.io, an analytics platform for crypto markets and NFTs supported by billionaire Mark Cuban, Bitcoin is regaining momentum in the NFT space and has become the most frequently traded blockchain network. In the last 24 hours alone, Bitcoin NFTs saw trading sales worth $6.6 million, reflecting a 195% increase compared to the previous day.

Bitcoin, known for its Ordinal, BRC-20, and Runes NFT collections, has successfully regained market leadership from Ethereum, which had dominated earlier this year after ordinals experienced a decline. Over the last 24 hours, Ethereum NFT sales totaled $4 million, a decrease of 6.38% from the day before.

Solana, an open-source public blockchain supporting smart contracts and various decentralized applications, currently ranks third. In the past day, Solana’s NFT collections achieved a trading sales volume of $2.2 million. Coming in fourth and fifth are Mythos Chain and Polygon, reporting trading sales volumes of $673,327 and $576,606 respectively.

Bitcoin’s Uncategorized Ordinals Lead in Daily Sales Volume

Bitcoin Ordinals NFTs, once regarded as a significant prospect in the digital collectible market, are making a gradual comeback after a challenging period. The Uncategorized Ordinals are at the forefront of this revival, witnessing a remarkable +8,000% increase in trading sales volume. In the past 24 hours, the Uncategorized Ordinal collection generated $4.6 million in sales.

Introduced on the Bitcoin mainnet on January 20, 2023, by developer Casey Rodarmor, Uncategorized Ordinals utilize the Satoshi Nakamoto Ordinal protocol. This category is inclusive of various digital assets on the Bitcoin blockchain that do not yet belong to an established collection. Another Ordinal, Ordinal Maxi Biz, has also shown positive growth, increasing +108% to $517,825 within the last 24 hours.

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