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Cryptocurrency News Articles
Ordinals Make a Spectacular Rebound, Defying the NFT Market Trend
Sep 25, 2024 at 05:35 pm
The recent resurgence of Ordinals on the Bitcoin network marks a turning point in the digital asset ecosystem. While the traditional NFT market struggles to regain its former dynamism, Ordinals collections are showing remarkable performance, defying current trends.
Recent developments on the Bitcoin network have seen Ordinals collections outperforming major NFT collections in the market.
Despite the NFT market experiencing a downturn in 2023, Ordinals collections on the Magic Eden platform have shown significant gains. Some collections, like NodeMonkes, have even doubled in value over a few weeks.
As Ordinals collections continue to attract attention, mainstream NFT collections on Ethereum and Solana are seeing limited gains or even declines.
The disparity in performance highlights the shifting preferences of investors and collectors in the digital asset space.
Ordinals, a type of NFT inscribed directly onto satoshis, have sparked a wave of interest in Bitcoin-based protocols.
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