Bitcoin NFT Market Surprisingly Upstaged the Ethereum NFT Market
Bitcoin-based NFTs, also known as Ordinal Inscriptions, have been selling at an impressive pace over the past one month and a half. Bitcoin’s NFT sales surpassed those of Ethereum in November, and the trend continued into December, rising more and more eyebrows.
According to Dune Analytics and Cryptoslam.io, this week showed that Bitcoin’s NFT sales reached close to $430 million, surpassing second place Solana, which recorded sales of $104 million over the past seven days. Ethereum, previously the leader in NFT sales, now ranks third with approximately $79.98 million in sales over the same period. Currently, the three leading market players in Bitcoin-based NFT sales include Okx, Unisat, and Magic Eden.
Okx is the clear leader in this space, with over 85% market share. Unisat is close behind with a share of 8.3%, while Magic Eden is at around 4.3%. Magic Eden’s 7-day market data shows that Bitcoin Frog was the most traded series in the BTC-based NFT space last week.
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