Bitcoin NFTs Reach $4 Billion in Sales Volume

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

Bitcoin NFTs Reach $4 Billion in Sales Volume

The nonfungible token (NFT) space faced a substantial reduction in sales during the month of May. Despite this decline, digital collectibles on the Bitcoin blockchain made a significant achievement. According to the data from CryptoSlam on June 4, NFTs on the Bitcoin blockchain surpassed a total all-time sales volume of $4 billion. This milestone encompasses both the NFT sales amounting to $3.97 billion and the wash sales totaling $82 million.

In the past 30 days, Bitcoin-based NFTs recorded a sales volume of $171 million, securing the top position in terms of sales volume across various blockchains. Ethereum followed closely with $159 million in sales, while Solana recorded $90 million within the same period.

Despite leading in 30-day volumes, Bitcoin-based NFTs are positioned as the fourth-largest blockchain in terms of sales volume. The top three spots are held by the Ronin blockchain with a total all-time sales of $4.2 billion.

Solana-based NFTs took the second position with an all-time sales record of $5.5 billion. Ethereum retained its prominence with an impressive $43.8 billion in recorded NFT sales.

The broader NFT market witnessed a decline in sales volumes during May, with CryptoSlam reporting a 54% decrease in monthly NFT sales compared to April. April saw sales exceeding $1 billion, while May recorded a volume of $624 million.

Bitcoin-based collectibles were impacted by this market downturn, experiencing a notable 68% decline in sales in May. Nonetheless, Bitcoin transactions reached a yearly high, surpassing $25 billion in transaction value on May 28. This surge in transaction value coincided with Bitcoin trading around $69,000.

Top 5 blockchains by all-time sales volume. Source: CryptoSlam

For further insights into Bitcoin transactions and the NFT market trends, refer to the related articles mentioned above.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

MediaMarkt Saturn Ceases Sales of Ledger Devices Amid Security Concerns

MediaMarkt Saturn has stopped selling Ledger devices due to security concerns following a customer report of a hidden implant.

user avatarRajesh Kumar

Binance Expands into Traditional Finance as Mining Pool Closes

As Binance prepares to shut down its mining pool, the exchange is expanding into traditional finance by providing access to over 7,000 US stocks and ETFs for customers outside the United States.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.