The global non-fungible token market has started getting exciting again after trading volumes started soaring and digital collectible prices kept on rising.
The global non-fungible token (NFT) market has shown signs of renewed activity, with trading volumes surging and prices of digital collectibles continuing to rise. Bitcoin is leading the resurgence in the NFT market, with its trading sales volume increasing by 190% in the past 24 hours. This surge has propelled Bitcoin to become the leading blockchain network in the global NFT market, reclaiming market dominance from Ethereum.
According to data compiled by cryptoslam.io, an on-chain crypto market data aggregator and a non-fungible token explorer backed exclusively by crypto billionaire Mark Cuban, Bitcoin has regained significant traction in the NFT market, emerging as the most-traded blockchain network. Over the past 24 hours, Bitcoin NFTs have recorded a trading sales volume of $6.6 million, marking an increase of 195% compared to the previous day.
Bitcoin, the blockchain network known for its Ordinal, BRC-20 and Runes NFT collection, has now taken the lead in market dominance from Ethereum, which rose to prominence earlier this year following the loss of initial traction by Ordinals. In the past 24 hours, Ethereum-based NFTs have collectively amassed a trading sales volume of $4 million, decreasing by 6.38% compared to the previous day.
Solana, a public, open-source blockchain network that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, ranks third today. Solana-based NFT collections have generated a trading sales volume of $2.2 million in the past 24 hours. During this time, Mythos Chain and Polygon occupy the fourth and fifth positions, respectively, with a trading sales volume of $673,327 and $576,606, respectively.
Bitcoin’s Uncategorized Ordinals Lead In Daily Sales Volume
Bitcoin Ordinals NFTs, once hailed as a beacon of hope within the digital collectible community, are gradually re-emerging following a steep decline over the past several weeks. The Uncategorized Ordinals are spearheading this new resurgence, experiencing a trading sales volume pump of over 8,000%. In the past 24 hours, the Uncategorized Ordinal collection has amassed a trading sales volume of $4.6 million.
Launched on the Bitcoin mainnet by Bitcoin developer Casey Rodarmor on January 20, 2023, Uncategorized Ordinals are NFTs created using the Satoshi Nakamoto Ordinal protocol. This category encompasses a wide range of digital assets on the Bitcoin blockchain that have not yet been classified as part of an established collection.
Another Ordinal that has witnessed positive growth is Ordinal Maxi Biz, which has pumped 108% to $517,825 in the past 24 hours.
