Bitcoin's Uncategorized Ordinal NFT Sells For +$6 Million

Bitcoin’s Uncategorized Ordinals NFT Sells For +$6 Million

Updated: 28 November 2024

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The non-fungible token market has witnessed a remarkable sale after an uncategorized Ordinal collectible on the Bitcoin network exchanged hands for a staggering 63.4 BTC, equivalent to $6.09 million. This transaction, which occurred just a few hours ago, has generated significant interest within the NFT community and propelled the trading volume of Ordinals to new heights.

Uncategorized Ordinals NFT Sells For +$6 Million

Data compiled by CryptoSlam.io, an on-chain crypto market data aggregator and a non-fungible token explorer, confirms that an Uncategorized Ordinal has successfully exchanged hands at $6.09 million directly on user to user. Following the high-profile Ordinal NFT sale, the trading sales volume of the global NFT market has significantly surged to new heights. In the past 24 hours, the NFT market has recorded a trading sales volume of $30 million, up 60% from the past day.

The Bitcoin Ordinals market experienced a substantial surge following the high-profile ordinal sale, skyrocketing by 31% within a 24-hour period. The increased activity propelled the trading volume to reach $12.2 million. Bitcoin Ordinals has surpassed the Ethereum NFT market, which also appears to be retesting a short bull run. In the past 24 hours, Ethereum-based NFTs have recorded a trading sales volume of $9.7 million, up 173% from the previous day.

Launched by Bitcoin developer Casey Rodarmor on January 20, 2023, Uncategorized Ordinals are NFTs on the Bitcoin blockchain network that are not part of an official collection. Rodarmor leveraged Satoshi Nakamoto’s Ordinal theory to create Uncategorized Ordinals. Ordinals Protocol allows an individual identifier to be assigned to each satoshi as it is created, thus making each unique. The creation of Ordinals was made possible by the 2021 Taproot upgrade.

NFT Market Analysis And Prediction

The recent sale of the uncategorized Ordinal for an impressive $6.09 million has undoubtedly created a buzz within the NFT market. This high-profile sale serves as a perfect testament to the thriving NFT market. Moreover, the surge in trading volume following the recent ordinal sale demonstrates the market’s capacity for growth and the potential for record-breaking transactions. The NFT market is projected to continue blossoming as industry participants and enthusiasts keep shifting back focus to the digital asset space.