Bitcoin Roars Again In The NFT Market

Updated: 25 January 2024

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Bitcoin, the blockchain network that powers the flagship crypto Bitcoin as well as non-fungible token collections, has experienced a strong resurgence today, emerging as the second largest NFT trading blockchain network. Bitcoin aims to outperform the Ethereum blockchain and again become the flagship NFT blockchain network.

Data compiled by Cryptoslam.io, an on-chain market data aggregator, shows that Bitcoin has experienced a strong resurgence in NFT sales. In the past 24 hours, Bitcoin-based NFT collections have amassed a trading sales volume of $8.2 million, representing a 43% spike from the previous day.

During this period, Ethereum, the largest blockchain network for NFTs and now the most robust market rival for Bitcoin, ranks first today. In the past 24 hours, non-fungible token collections hosted on the Ethereum blockchain have amassed a trading sales volume of $8.9 million.

Solana, a public, open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, ranks third today in NFT sales. In the past 24 hours, Solana NFTs have recorded a trading sales volume of $7.3 million.

Non-fungible token collections hosted on Polygon, an Ethereum scaling solution blockchain network and potential threat to Bitcoin, rank fourth today in NFT sales. In the past 24 hours, Polygon-based NFT collections have recorded a trading sales volume of $2.9 million. Polygon NFT sales have surged 66% from the previous day.

Top NFTs Collection Pushing Bitcoin NFT Sales

1. Bitcoin Ordinals NFT Collection

Bitcoin Ordinal, a non-fungible token collection created on the Bitcoin blockchain network using satoshis, the smallest denomination on the chain, is the top-selling Bitcoin NFT today. In the past 24 hours, Bitcoin Ordinals have amassed a sales volume of $1.3 million. Bitcoin Ordinals have surged 31% in sales volume.

2. $LIGO BRC-20 NFT Collection

$LIGO, a non-fungible token collection created in the Bitcoin blockchain network using the BRC-20 protocol, is another NFT collection that contributed to the exponential surge of Bitcoin NFT sales volume. In the past 24 hours, the $LIGO BRC-20 NFT collection has recorded a trading sales volume of $987,559. $LIGO NFT sales volume has surged 114% from the past day.

3. $GBTS BRC-20 NFT Collection

$GBTS, an NFT collection created on the Bitcoin blockchain network using the BRC-20 protocol, is another NFT collection that has largely contributed to the significant surge of Bitcoin NFT sales. In the past 24 hours, the $GBTS BRC-20 NFT collection has recorded a trading sales volume of $658,345, representing a 22% spike from the previous day.