Bitcoin Blockchain Dominates NFT Sales as Overall Market Declines
In the last 30 days, sales of non-fungible tokens (NFTs) have experienced a significant decline of over 38% compared to the previous month. However, NFTs minted on the Bitcoin blockchain have emerged as the dominant force, accounting for more than 44% of all sales. This trend is further supported by data showing that four out of the top five best-selling NFT collections originate from the Bitcoin blockchain.
Bitcoin’s Influence on NFT Sales Continues to Grow
Bitcoin’s influence in the world of NFTs continues to strengthen, surpassing 24 other unique blockchain networks in the past 30 days, including Ethereum. According to data from cryptoslam.io, NFTs based on the Bitcoin blockchain have generated a total of $3.43 billion in sales, placing Bitcoin in fourth position, just behind Ethereum, Solana, and Ronin.
Bitcoin Closes in on Ronin’s All-Time Sales Record
Bitcoin is rapidly closing in on Ronin’s all-time sales record of $4.26 billion. From March 27 to April 27, 2024, Bitcoin achieved $457.62 million in NFT sales, with only $716,035 potentially linked to wash trading. In the same period, Ethereum secured the second spot with $262.37 million in sales, while Solana recorded $165.14 million in NFT sales, ranking third in terms of sales volume.
Notable NFT Sales on Bitcoin and Ethereum
During the 30-day period, the most expensive NFT sold was Cryptopunk #635 on Ethereum, fetching an impressive $12.41 million. On the Bitcoin blockchain, the top sale was Bitcoin Ape #2,301, which sold for $459,436. This NFT represents a byte-accurate transfer of the original Bored Ape Yacht Club (BAYC) to the Bitcoin blockchain through Ordinals. Following closely behind were eight other sales from the Bitcoin Puppets collection, ranging from $254,062 to $354,801 each.
Bitcoin Blockchain Dominates NFT Collections
Over the past 30 days, four out of the five highest-selling NFT collections have emerged from the Bitcoin blockchain. The leading collection is Uncategorized Ordinals, which generated $152 million in sales, followed by Bitcoin Puppets with $71.84 million. WZRD digital collectibles and Nodemonkes compilation secured the third and fourth spots, respectively, with sales of $34.81 million and $34 million. Mythos’ Dmarket NFT collection ranked fifth, accumulating $28.6 million in sales, according to cryptoslam.io’s 30-day statistics.
Share Your Thoughts on Bitcoin’s Dominance in NFT Sales
What are your thoughts and opinions on Bitcoin-based NFT sales leading the market in the past month? Feel free to share your insights in the comments section below.
