As known from:
known from Coinwireknown from Benchknown from Coinindex
  • About CryptoGmblr.com
Contains commercial content
Cryptogambling / Bitcoin NFTs rise to second in total sales volume

Bitcoin NFTs rise to second in total sales volume

Publish Date: 25/05/2023
Video: How Are Bitcoin NFTs POSSIBLE? Ordinals Explained

How Are Bitcoin NFTs POSSIBLE? Ordinals Explained

Bitcoin-based NFTs have claimed the second spot for NFT sales per blockchain. Per data from CryptoSlam, Bitcoin NFTs generated $171 million in sales on secondary markets within the past 30 days. Last week alone, it made over $42.6 million

While Ethereum maintains the top position with nearly $397 million in NFT sales, Bitcoin’s NFT sales outshine Solana and Cardano by almost three times. The Solana network recorded approximately $56 million in NFT sales, while Cardano reported NFT sales of around $7 million.

Leonidas.og
2023-05-25 05:24
Ordinals have only been around for four months and we’ve already flipped every other chain by volume except for Ethereum. Bitcoin will ascend to its thrown. It is inevitable. https://t.co/IaIE8AcJUf https://t.co/gzmWqsmwrZ
618 87

Bitcoin NFTs — what are they?

Bitcoin NFTs run on the Ordinals protocol. Developed by software engineer Casey Rodarmor, the protocol allows users and developers to attach Ordinals to each of the 100,000,000 units of Bitcoin, commonly known as “sats” or “satoshis.”

This mechanism allows for the embedding of data, including smart contracts and JPEGs, into these smallest units of Bitcoin. As a result, NFTs can be built directly on the Bitcoin blockchain, just like other blockchain networks.

While the introduction of Ordinals has faced some criticism within the Bitcoin community, it has also gained significant traction with the release of Yuga Labs’ Ordinals-based collection in February.

Osprey Funds
2023-05-25 05:24
The implementation of #Bitcoin ordinals spurred NFT activity on $BTC. Over the past 30 days #Bitcoin has seen the second most NFT sales volume among all blockchains: h/t @cryptoslamio https://t.co/q8qnHCcLfD
11 3

Currently, the network boasts almost 9 million inscriptions and has accumulated over $41 million in total fees, as blockchain ecosystem analytics Dune recorded. This data demonstrates the sustained momentum of the Ordinals craze despite the challenges.

BRC-20 token transactions, as reported by Domo’s Dune dashboard, dominate the ordinals’ activity on Bitcoin. The BRC-20 token standard, built using ordinals, has gained attention for its role in meme coins. The market capitalization of BRC-20 meme coins surpassed $1 billion in May, with the current market cap standing at $447 million.

Potentially surpassing Ethereum

Ethereum has been the dominant player in the NFT space since 2017, and its massive success has prompted the rise of competing blockchain networks such as Polygon, Solana and Cardano.

Now, Bitcoin is challenging Ethereum’s established position in an unexpected manner, intensifying the competition among blockchain networks.

trevor.btc @ NYC
2023-05-25 05:24
DO YOU SEE THIS? Bitcoin Ordinals trading volume UP 35% in 7 days and Bitcoin volume reaching 37% of ETH’s volume when you subtract $93M in wash trading on ETH Data by @cryptoslamio The reverse flippening is coming! https://t.co/EvYRxITbfJ
134 18

Ethereum has faced challenges in managing the growing adoption of NFTs, resulting in issues such as high gas fees and network congestion. This issue opened the door for Bitcoin to make its presence in the space.

This doesn’t mean that everything’s going smoothly for Bitcoin Ordinals, however. With over 200,000 pending transactions in its mempool, confirmation delays have been a concern. The network is also witnessing a rise in fees, mirroring the situation on Ethereum.

Both Bitcoin and Ethereum communities are actively working to address their limitations. Ethereum introduced the scalable ERC-6551 NFT standard. Meanwhile, Bitcoin Lightning network developers released an update for off-chain NFT transactions and asset creation.

SheetFu
2023-05-25 05:24
BTC Ordinals volume alone is higher than eBay at IPO Let that sink in https://t.co/4XPrOJ0ukS
197 23

Current numbers show that Ethereum will remain at the top, as it offers support for decentralized autonomous organizations and boasts advantages such as integration with the robust $27.5 billion decentralized finance ecosystem.

It remains uncertain whether the anticipated “flippening” will occur and if Bitcoin NFTs will surpass Ethereum’s dominance. Despite the ongoing surge in Bitcoin NFT sales, these collections have yet to showcase tangible utility or cultivate a dedicated community of holders.

Top Online Casinos
Top Casinos Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
McLuck
McLuck Review
4.6/5
High5Casino
High5Casino
High5Casino Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Bonus
Up to 27.5 Free Sweepstakes Coins + 57.500 Gold Coins
T&Cs apply
4.6/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
Get 55,000 Lucky Coins and 34 Sweeps Coins with first purchase
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75 million WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5
Latest News
Charles Hoskinson forecasts Altcoin season showdown: ADA vs. DOGE
Cardano (ADA) Faces Dual Meme Coin Competition where ...
Top 5 AI cryptocurrencies ready to thrive during the next bull market
New crypto ventures merge the groundbreaking capabilities of ...
Top Crypto Exchange Sites
Crypto Exchange Guide
  • Crypto Exchanges
  • Betting Exchange
Top Brands
Top Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
McLuck
McLuck Review
4.6/5
High5Casino
High5Casino
High5Casino Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Bonus
Up to 27.5 Free Sweepstakes Coins + 57.500 Gold Coins
T&Cs apply
4.6/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
Get 55,000 Lucky Coins and 34 Sweeps Coins with first purchase
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75 million WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPG
Close
Players accepted in the US US Flag
Stake.us Exclusive Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
Promo Code
Go to Stake.us
Visit Site
T&Cs apply, 18+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Exclusive promo code: CRYPTGAMBL
  • Play Stake Originals games for free
  • Get free Stake Cash daily just by logging in
Stake Originals
Dice
Crash
Plinko
Mines
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site