Since early 2022, the NFT market has undergone significant changes, yet Bitcoin is steadily asserting its position thanks to the Ordinals protocol and the growing NFT ecosystem.
Bitcoin and Ordinals in the NFT World
In December 2022, Bitcoin entered the NFT market, and since then, nearly 100 million Ordinals have been created on its platform. The Ordinals protocol allows users to directly inscribe images, files, and art onto the Bitcoin blockchain, significantly increasing its relevance in the digital collectibles ecosystem.
NFT Sales Volume on Bitcoin
According to data collected by crypto researchers, Bitcoin-based trading volumes have surpassed $5.5 billion. Bitcoin ranks third in the NFT market, behind Ethereum and Solana, whose sales volumes are $45 billion and $6.3 billion respectively.
Popular NFT Collections on Bitcoin
Leading NFT collections on Bitcoin include: 'Uncategorized Ordinals' with $478 million in sales, 'NodeMonkes' with $319 million, and 'Runestone' and 'Bitcoin Puppets' with sales of $251 million and $243 million respectively.
Bitcoin continues to solidify its position in the NFT market, showcasing impressive sales volumes and attracting collectors' attention. With the introduction of the Ordinals protocol, Bitcoin is further developing its role in the world of digital assets.
