Against the background of continued interest in the Ordinals protocol, the daily trading volume on the NFT marketplace of the OKX cryptocurrency exchange exceeded the indicators of the market leaders of non-interchangeable tokens.
On December 18th, the turnover of the trading platform reached $45.31 million, according to information from the analytical platform DappRadar.
The second-place in daily trading volume was taken by the NFT marketplace Blur, where the transaction volume reached $13.36 million. Magic Eden with $7.55 million and UniSat with $3.21 million followed. Meanwhile, trading on OpenSea barely exceeded the $3 million mark.
Top 5 NFT Marketplaces by Daily Trading Volume.
The growth of the OKX platform is attributed to the increase in trading volume of NFTs related to Bitcoin. On December 15th, this cryptocurrency exchange added the SATS token, corresponding to the BRC-20 standard. It's worth noting that OpenSea and Blur currently do not support such assets.
From December 10th to 17th, the trading volume on OKX increased to $305.44 million, compared to the previous week when it was $121.28 million, according to CryptoSlam data. NFT trading volume on the Ethereum network for the same period reached $93.45 million, and on Solana, it reached $90.74 million.
Top 5 Blockchains by NFT Sales Volume.
In early December, it became known that the blockchain of the first cryptocurrency was congested five times due to the growing popularity of BRC-20 tokens, which appeared thanks to the Ordinals protocol. This led to an increase in transaction fees and mempool congestion. On December 17th, the cost of a Bitcoin network transaction reached $40, the highest value recorded since May of this year.
A study by a Chinese Bitcoin trader showed that since the introduction of Ordinals in early 2023, the Bitcoin blockchain has accumulated 140 million unspent transaction outputs (UTXO).
The Bitcoin Core code developer expressed criticism of the project, calling it "fraudulent." In his opinion, the damage from BRC-20 tokens is already irreversible. The U.S. National Vulnerability Database (NVD) even identified "notations" as a potential cybersecurity threat to the Bitcoin network.
