Bitcoin NFTs hit $4B in all-time sales volume
Bitcoin holds the top four spot in all-time NFT sales volume, following Ethereum, Solana and Ronin.
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Bitcoin holds the top four spot in all-time NFT sales volume, following Ethereum, Solana and Ronin.
Bitcoin NFTs surpass Ronin in all-time sales volume, achieving over $4.27 billion and climbing to third place behind Solana and Ethereum.
Bitcoin-based NFTs recorded a sales volume of $148 million in the last 30 days, according to CryptoSlam.
NFT sales surge volumes across various platforms and blockchains, with Bitcoin-based digital collectibles leading the charge.
NFT sales dropped from $1 billion in April to $624 million in May, with Bitcoin, Ethereum, and Solana-based digital collectibles significantly declining.
Binance says that the decision was in line with a broader strategy that pursues a leaner set of product offerings.
Binance NFT discontinues Bitcoin NFT trades and deposits, advises withdrawals by deadline, and details distribution of Runestone NFTs and tokens. (Read More)
Franklin Templeton’s digital assets division has released a note to its investors introducing Bitcoin-based non-fungible tokens (NFTs), highlighting a surge in activity within the Bitcoin ecosystem. The asset manager attributes this increased momentum to various factors, including the emergence of Bitcoin (BTC) NFTs called Ordinals, the development of new fungible standards like BRC-20 and Runes, the growth of Bitcoin Layer 2 (L2s) solutions, and the expansion of decentralized finance (DeFi) applications built on the Bitcoin network. Bitcoin Ordinals Shine According to the Bitcoin ETF issuer’s report, activity in the Bitcoin NFT space is gaining momentum. In particular, Ordinals have seen a significant increase in trading volume over the past few months. This growth is evident in Bitcoin’s dominance in terms of trading volume, which surpassed Ethereum (ETH) in December 2023, as shown in the accompanying chart. Related Reading: Trouble Ahead? Binance Coin Futures Market Under Pressure With Negative Funding Rates In addition, several collections of Bitcoin Ordinals are emerging as dominant players in the NFT market, both in terms of trading volume and market capitalization. These collections include NodeMonkes, Runestone, and Bitcoin Puppets, which have an aggregate market cap of $353 million, $339 million, and $168 million, respectively. They are the most notable collections. In terms of trading volume over the past 30 days, the report shows that these three collections recorded trading volumes of $81 million, $85 million, and $38 million, respectively, over the past month. The asset manager further claimed that what distinguishes BTC Ordinals from NFTs on other blockchains, such as Ethereum or Solana, is that they contain raw data recorded directly on the Bitcoin blockchain. This feature contributes to the attractiveness and growing popularity of Bitcoin Ordinals, as evidenced by market cap and trading volume figures. Franklin Templeton, known for its involvement in the ETF market, was one of the issuers that launched a spot BTC ETF in the United States earlier this year. Its ETF, which trades under the ticker name “EZBC,” has seen total inflows of 281.8 million since its January 11 launch, according to BitMEX research data as of April 3. Despite its zero-fee structure, Franklin Templeton’s ETF has seen a significant difference in flows compared to the leading players in the newly approved ETF market, such as Blackrock (IBIT) and Fidelity (FBTC), which have seen flows of over 14 billion and 7.7 billion, respectively. Binance To Discontinue Support For BTC NFTs In a recent blog post, crypto exchange Binance announced it would discontinue support for Bitcoin-based NFTs on its marketplace. Less than a year after their introduction, Binance will no longer facilitate airdrops, benefits, or utilities associated with BTC NFTs, citing a need to streamline its product offerings in the NFT space. Related Reading: Injective Whales Go On $24.8 Million Buying Spree, Is This The Next Solana? Binance states that users who own Bitcoin NFTs are advised to withdraw them from the Binance NFT marketplace via the Bitcoin network before May 18, 2024. Effective April 18, 2024, users can no longer purchase, deposit, bid, or list NFTs via the BTC network on the Binance NFT Marketplace. Any existing listing orders affected by this change will be automatically canceled simultaneously. Currently, BTC is trading at $68,300, up a modest 3% in the last 24 hours. It is approaching the significant milestone of $70,000, a level the cryptocurrency has struggled to maintain several times. Featured image from Shutterstock, chart from TradingView.com
Sales of Non-fungible tokens (NFTs) have witnessed a notable uptick this past week, climbing 11.62% to hit $442.02 million over the previous seven days. The most significant transaction was the sale of the ‘Alien’ Cryptopunk #3,100, donning a headband, for $16 million, with Bitcoin-based NFTs claiming the lead in sales volume across 22 different blockchains. [...]
The post NFT Market Flourishes With an 11.62% Rise This Week; Largest Ordinal Inscription Fetches Record 8 BTC appeared first on Crypto Breaking News.
As the value of cryptocurrencies has risen, the non-fungible token (NFT) market has experienced a 35.14% increase in sales compared to the preceding week. This marks the third consecutive week of sales growth in the NFT sector, with NFTs based on Bitcoin leading the charge throughout this period. NFT Sales Surge Past $412 Million in [...]
The post NFT Market Booms With 35% Sales Increase as Cryptocurrencies Rally appeared first on Crypto Breaking News.
Crypto skeptic turned enthusiast Peter Schiff, who has long criticized Bitcoin and tried to discredit its value over the past decade, has surprisingly embraced the cryptocurrency by announcing his plans to release an NFT collection on the Bitcoin network. In a seemingly satirical twist but with genuine intent, Peter Schiff, an economist known for advocating […]
In what seems like a parody but isn’t, Economist, gold proponent and avid crypto skeptic Peter Schiff has unveiled a collaborative nonfungible token (NFT) art collection on Bitcoin that will soon go up for auction. The reaction from the crypto community has been mixed, with people generally baffled, amused, welcoming — especially Ordinals proponents — [...]
The post Crypto hater Peter Schiff to drop Bitcoin Ordinals NFT art collection appeared first on Crypto Breaking News.
The founder of Digital Bitcoin Art and Assets believes that smart contracts on Bitcoin could solve the myriad problems created by Ordinals.
In the past month, recent data reveals that sales of non-fungible tokens (NFTs) originating from the Bitcoin blockchain have surged to $173.28 million. Surpassing 20 alternative blockchain networks, Bitcoin-based NFT sales now secure the second position in the realm of blockchain sales, with only Ethereum reigning supreme. Bitcoin-Based NFTs Storm the Market, Surpassing 20 Blockchain [...]
The post 30-Day Bitcoin NFT Sales Surge to $173 Million, Securing Second Place in Blockchain Market appeared first on Crypto Breaking News.
Bitcoin has seen around $167.47 million in NFT sales over the past 30 days, while StepN has integrated Apple Pay to remove barriers to entry to the app.
The OKXNFT marketplace has launched the first-ever Bitcoin Ordinal NFT collection. The new collection allows users to use ETH or other ERC20 tokens to place orders or trade BTCNFT. OKX, a trusted name in the world of cryptocurrency, has verified the authenticity of the BTCNFT listed on its platform, which can be withdrawn to the […]
Galaxy Digital's research unit predicts that the Bitcoin nonfungible token (NFT) market could reach a $4.5 billion market cap by March 2025 based on conservative estimations. The report also outlines bear and bull case scenarios for the market. (Read More)
Bitcoin (BTC) core developer Luke Dashjr has distanced himself from an NFT that auctioned his code for 0.41 BTC — worth roughly $10,000.
The post Bitcoin core developer distances himself from NFTs using his code without permission appeared first on CryptoSlate.
The “Parisland” metaverse experience will launch in time for Valentine's Day to give budding lovebugs a space to meet, at least virtually.
Users are posting massive files to the Bitcoin network via the Ordinals protocol, taking up block space and paying high fees to do so.
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