Bitcoin attains a second position in the NFT blockchain

Alongside open editions, as well as memecoins, which also witnessed a tremendous amount of surge, it is the Bitcoin that is slowly but surely inching its way forward to leave behind its current second positioning and become the absolute top NFT blockchain. If market cap is to be considered, the crypto network is undoubtedly the very first chain under the present scenario. 

If CryptoSlam, which is the most sought-after NFT industry data collector, is to be believed, Bitcoin has attained the distinction of being labeled the tenth in line in terms of the leading NFT blockchains prevalent as of date. This is in relation to the overall sales volume. However, of late, it has been noticed that the chain has managed to successfully garner for itself a significant increase in NFT revenue. This has helped it to attain the envious second position in the industry. 

Going by the latest and most reliable data, it is Ethereum without fail that has been able to hold onto its topmost position in matters related to volume and amounting to $393 million. Close on its heels is none other than Bitcoin, with more than $169 million. In comparison with Solana, the figure is higher than double, placing the entity in the overall third position in terms of ranking. Solana has with it the amount to the tune of $55 million.

The last couple of months have witnessed a number of different organized collection attempts that have gained their place on the chain. Out of these, the two most significant ones are, without a doubt, Space Pepes and Bitcoin Frogs. These two were instrumental in increasing their individual sales volumes to a great extent. In the case of Space Pepes, it amounts to $12 million, and where Bitcoin Frogs is concerned, the amount is $9.6 million. 

In the case of Bitcoin Ordinals, it is seemingly gaining an extreme amount of popularity by the day. All of the prime brands on the blockchain are helping to raise the sales volume of NFTs, with the Bitcoin NFTs ruling the roost. However, it remains a fact that pushing aside Ethereum to gain the top spot for Bitcoin will still be a real uphill task. 

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A factor to also be considered is that having BRC20 tokens taking the lead in the Ordinals ecosystem and covering the nine million figure, along with the rise in the number of Bitcoin NFTs, just about anything is possible in the near future.      

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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