Bitcoin: NFT sales explosion, $425 million in a week!

The market for NFTs issued on the Bitcoin blockchain has seen remarkable growth over the past week. The numbers speak for themselves. The total revenue is approximately $425.63 million. This new and growing market is showing interesting dynamics, even surpassing Ethereum’s NFT sales.

NFT bitcoins: impressive sales rate

Over the past week, Bitcoin NFTs have released a impressive sales rate, especially inscriptions on ordinals. This trend started in November and continued until December. Cryptoslam data shows sales of $425.63 million. Numbers that far surpass those of Solano, which has seen $104 million in seven days. Ethereum, which traditionally ranks first in NFT sales, is relegated to third place. In the last week, it recorded the revenue of $79.98 million.

Regarding the facilitation of markets Bitcoin based NFT sale, we have identified the leading trio as of December 20, 2023. We find Okx, Unisat and Magic Eden. Okx dominates with a market share of over 85%.

Good market dynamics

Market values ​​are also substantial. NFT BTC Frog has a minimum price of 0.395 Bitcoin, which is equivalent to $17,241 based on the current Bitcoin price. According to Magic Eden, BTC Frogs have reached sales volume 193.26 bitcoins, or $8.43 million, in the span of one week. The Frogs Bitcoin collection reached a total of 328.95 BTC, or $14.35 million in revenue.

Bitcoin Ordinals listings fall short of the value of major Ethereum NFT collections such as Cryptopunks and Bored Ape Yacht Club (BAYC). But they soon gain recognition. Last week showed the ability of Bitcoin NFTs to hold their own in the market. Bitcoin Ordinals Could Steal Space From Ethereum which has long been number one in NFT collections.

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I am passionate about cryptocurrencies, a world I discovered barely 3 years ago. My only goal is to inform you about this incredible universe through my articles.

DISCLAIMER OF LIABILITY

The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.

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