NFTs Are Down, But Bull Run Still Imminent – Bitcoin & Solana NFTs Are Leading The Revival

Updated: 03 April 2024

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The non-fungible token market led by the Ethereum NFT market has suffered a brutal downturn in the past several weeks, with rumours spreading that the NFT market is dying this time around. But, interestingly, the Bitcoin and Solana-based NFT collections have emerged to tarnish these rumours and are now leading the NFT market resurgence.

The NFT Market Jump 5% Today

Data compiled by Cryptoslam.io, an on-chain crypto market aggregator, indicates that the global non-fungible token market has today recorded some positive gains. In the past 24 hours, the NFT market has recorded a trading sales volume of $29 million, representing 4.82% from the past day.

These positive gains appear amid the short bear market, which had left massive losses in many non-fungible token collections, mostly the NFT collections hosted on the Ethereum blockchain network. The Bored Ape Yacht Club and Mutant Ape Yacht Club are perfect examples of NFTs impacted by the recent short NFT bear market.

In the past three months, the Bored Ape Yacht Club NFT collection has seen its NFT floor price dropping over 30% to below 12 ETH. On the other hand, the Mutant Ape Yacht Club has seen its floor price flipping below 2 ETH for the first time in NFT history.

The NFT Bull Market Still Imminent

Fortunately, the non-fungible token market appears to be taking an upside trajectory after nearly three months of a downward spiral, with the Bitcoin and Solana-based NFT collection leading the NFT resurgence. The resurgence showcases that the highly anticipated NFT Bull Run is still imminent.

Non-fungible token collections hosted on the Bitcoin and Solana blockchain networks are bullish today, showcasing promising signs of the NFT market recovery in the coming weeks. In the past 24 hours, the Bitcoin NFT collections have raised a sales volume of $9 million, representing a 17% surge from the past day.

During this time, the Solana NFT collection has raised a trading sales volume of $7.6 million, representing 9.98% from the past day. Bitcoin Ordinals are the most selling NFT collections on the Bitcoin network today. In the past 24 hours, the Bitcoin Ordinals NFT collection has amassed a trading sales volume of $3.6 million, representing a 92% surge from the past day.

Tensorians, an NFT collection featuring a limited edition of 10,000 pixilated NFTs hosted on the Solana blockchain network, is the second most-selling NFT collection today. In the past 24 hours, the Tensorians NFT collection has recorded a trading sales volume of $1.7 million. The Tensorians NFT sales have pumped 369% from the past day.

Mad Lads, a non-fungible token collection from the Solana Development Project Coral with a limited supply of 10,000 NFT collections hosted on the Solana blockchain network, is today’s third most-selling NFT collection. In the past 24 hours, the Mad Lads NFT collection has recorded a trading sales volume of $1.4 million. Mad Lads NFT sales have risen 73% from the past day.