Ethereum Reclaims NFT Market Dominance - Will BRC-20 NFTs Rally Again This Week?

Ethereum Reclaims NFT Market Dominance – Will BRC-20 NFTs Rally Again This Week?

Updated: 27 November 2023

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

Ethereum, the largest blockchain network for non-fungible token collection, has successfully reclaimed its initial NFT market dominance. Ethereum blockchain network lost its NFT market dominance to Bitcoin earlier this month, following the recent short market rally of BRC-20 NFTs.

Data compiled by CryptoSlam.io, an on-chain data aggregator, shows that non-fungible tokens hosted on Ethereum are the most traded this week, flipping Bitcoin-based NFT collection, which used to dominate the NFT market in the past three weeks.

Ethereum Flips Bitcoin In NFT Sales Volume

Non-fungible tokens hosted on Bitcoin, one of the largest blockchain networks for both crypto and NFTs, outperformed Ethereum-based NFTs in sales earlier this month. In the past 24 hours, Ethereum NFTs have recorded a trading sales volume of $13 million, while Bitcoin NFTs have amassed a trading sales volume of just $5 million. Ethereum NFT sales are over two times that of Bitcoin.

Digital collectibles hosted on Solana and Immutable X are the third and fourth most traded NFT collections this week, amassing sales volumes of $1.7 million and $806,456, respectively. In the past 24 hours, Solana-based NFT sales volumes are down 12%, while Immutable X is down 1%.

Mythos Chain-based NFT collections are the fifth most traded NFT collection in the past 24 hours, amassing a trading sales volume of $750,979. Mythos Chain NFT collections are 1.49% in sales. NFT sales across all blockchain networks have risen to $23 million.

Ten Most Traded NFTs In The Past 24 Hours

Source: CryptoSlam.io, top-selling NFTs

1. Bored Ape Yacht Club NFTs

Bored Ape Yacht Club, an NFT collection from the digital asset firm Yuga Labs featuring a fixed set of 10,000 NFTs hosted on the Ethereum blockchain network, is the top most traded NFT collection today. In the past 24 hours, Bored Ape Yacht Club has amassed a trading sales volume of $2.2 million. The NFT collection is up 11.57% from the previous day.

2. $SAT BRC-20 NFTs

$SAT is a crypto token created on the Bitcoin blockchain network using a BRC-20, a protocol similar to the renowned Ethereum ERC-20. $SAT BRC-20s are the second most traded NFT collection today. In the past 24 hours, the NFT collection has recorded a trading sales volume of 1.7 million. $SAT BRC-20 NFTs are up 96.18% today from the previous day.

3. $RAT BRC-20 NFTs

$RAT is an animal crypto token created on the Bitcoin blockchain network using the BRC-20 NFT protocol. $RAT BRC-20 NFT collections are today’s third most traded NFT collection, attracting a trading sales volume of $840,545.In the past 24 hours, $RAT BRC-20 NFTs are up 77.29% in sales volume.

4. FrxETHRedemtion NFTs

FrxETHRedemtion, an NFT collection hosted on the Ethereum blockchain network, is today’s fourth most traded NFT collection. In the past 24 hours, the FrxETHRedemtion NFT collection has recorded a trading sales volume of $812,055.The NFT collection is 390,160% in just hours.

5. DMarket NFT Collection

DMarket, an NFT collection hosted on the Mythos Chain blockchain network, is today’s fifth most-traded NFT collection. In the past 24 hours, DMarket NFT collection has amassed a trading sales volume of $731,446. DMarket NFTs are 1.0% today compared to the previous day.

Source: CryptoSlam.io, top selling NFTs

6. Gods Unchained NFT Collection

Gods Unchained, an NFT collection from Ethereum Layer 2 network Immutable X, is today’s sixth most traded NFT collection. In the past 24 hours, Gods Unchained has recorded a trading sales volume of $686,679. However, Gods Unchained NFTs are down 7.02% today.

7. Mutant Ape Yacht Club NFTs

Mutant Ape Yacht Club, an NFT collection from the digital asset incubation studio Yuga Labs featuring a limited edition of 20,000 NFTs hosted on the Ethereum network, is the seventh most traded NFT collection today. In the past 24 hours, the NFT collection has recorded a trading sales volume of $511,703, up 13.83% from the previous day.

8. DeGods NFT Collection

DeGods is an NFT collection from the digital asset firm Dust Labs featuring a limited edition of 10,000 NFTs hosted on the Ethereum network. DeGods is today’s eighth most traded NFT collection, raising a trading sales volume of $472,075.DeGods NFTs are down 22% today.

9. AOIEngine NFT Collection

AOIEngine, an NFT collection hosted on the Ethereum blockchain network, is today’s ninth-most-selling NFT collection. In the past 24 hours, the AOIEngine NFTs collection has recorded a trading sales volume of $429,053. Nonetheless, the NFT collection is down 75%.

10. CryptoPunks NFTs Collection

CryptoPunks is an NFT collection previously from the digital asset incubation studio Larva Labs before being sold to Bored Ape Yacht Club creator Yuga Labs. CryptoPunks, an NFT collection with a limited edition of 10,000 NFTs, is today’s tenth most traded NFT collection. The NFT collection is up 211% in sales volume.

Will BRC-20 NFTs Rally Again This Week?

Bitcoin BRC-20 NFT market rally has cooled in recent days after three weeks of bull run. Nonetheless, the BRC-20 NFTs, alongside other NFT collections, are expected to continue flourishing in the coming weeks. The global NFT market is predicted to undergo another bull run similar to the historic 2021 bull run in the coming weeks or months.