Bitcoin NFT Holders Show No Signs of Exiting Despite Ordinals Hype Dying Down

Ordinals hype may have died down in recent months, but that doesn't mean Bitcoin NFT holders have been hitting the exits.

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Ordinals Hype May Have Died Down, But BTC NFT Holders Aren't Hitting the Exits

Ordinals hype may have cooled off in recent months, but that doesn't mean the NFT activity on the Bitcoin blockchain has ground to a halt.

In fact, as Electric Capital's Ren shows in the tweet below, roughly $400 million worth of unspent BTC is sitting in wallets that have traded Bitcoin-based assets like Ordinals and Runes since early last year.

This dynamic suggests that Bitcoin-native assets have not only onboarded a significant number of users to BTC but also kept them engaged long-term. It's a show of strength for the OG blockchain, a demonstration that it can maintain its user base even during quieter periods.

Of course, the stickiness around Ordinals also suggests that users are not only attracted to these new assets but are also confident in their long-term value and potential.

Personally, I'd agree, I do think various Bitcoin NFT collections like NodeMonkes, Bitcoin Puppets, and Pizza Ninjas could age well over time. That said, apparently more than a few people are currently sticking around to find out!