{"id":362006,"date":"2024-01-04T14:00:11","date_gmt":"2024-01-04T08:30:11","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=362006"},"modified":"2024-01-05T10:35:56","modified_gmt":"2024-01-05T05:05:56","slug":"bitcoin-beats-ethereum-in-nft-sales-again-details-here","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bitcoin-beats-ethereum-in-nft-sales-again-details-here\/","title":{"rendered":"Ethereum falls behind Bitcoin in NFT sales again, details here"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">NFT sales volume on the Bitcoin network exceeded Ethereum in December.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">This occurred despite Ethereum recording a\u00a0 higher transaction count.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The Bitcoin [BTC] Network outpaced Ethereum [ETH] as the blockchain with the highest non-fungible token (NFT) sales volume in December, marking the second such occurrence in just two months.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to data from <\/span><a href=\"https:\/\/www.cryptoslam.io\/blockchains\/bitcoin\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CryptoSlam<\/span><\/a><span style=\"font-weight: 400;\">, in December, NFT sales on the Bitcoin network totaled $881 million compared to Ethereum&#8217;s $353 million.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> In November, NFT sales on Ethereum fell behind those recorded on the Bitcoin network by almost 10%, to mark the first time in history that the latter would record a higher sales volume than the former.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The surge in NFT activity recorded on the Bitcoin network in the last two months can be attributed to the resurgence in interest in inscriptions and Ordinals on the blockchain.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Due to the high activity, by 16th December, the Bitcoin network recorded a single-day high of $10 million paid as fees to mint inscriptions on the blockchain, according to data from Dune <\/span><a href=\"https:\/\/dune.com\/dataalways\/ordinals\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Analytics<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<figure id=\"attachment_362009\" aria-describedby=\"caption-attachment-362009\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.48.17.png\"><img decoding=\"async\" class=\"wp-image-362009 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.48.17.png\" alt=\"\" width=\"2560\" height=\"893\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.48.17.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.48.17-300x105.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.48.17-1024x357.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.48.17-768x268.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.48.17-1536x536.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.48.17-2048x714.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-362009\" class=\"wp-caption-text\">Source: Dune Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Also, the activity of Inscriptions and Ordinals on the Bitcoin network resulted in an uptick in demand for blockspace. As of 18th December, AMBCrypto found that activity around inscriptions accounted for 39% of the virtual blockspace on the network.\u00a0<\/span><\/p>\n<figure id=\"attachment_362010\" aria-describedby=\"caption-attachment-362010\" style=\"width: 1406px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.49.05.png\"><img decoding=\"async\" class=\"wp-image-362010 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.49.05.png\" alt=\"\" width=\"1406\" height=\"784\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.49.05.png 1406w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.49.05-300x167.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.49.05-1024x571.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.49.05-768x428.png 768w\" sizes=\"(max-width: 1406px) 100vw, 1406px\" \/><\/a><figcaption id=\"caption-attachment-362010\" class=\"wp-caption-text\">Source: Dune Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Interestingly, while Ethereum witnessed a lesser sales volume than the Bitcoin network, it recorded a higher transaction count in December. AMBCrypto found that the total count of NFT transactions completed on Ethereum during the 31-day period totaled 698,201.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, the Bitcoin network registered only 493,516 transactions.\u00a0<\/span><\/p>\n<h4><b>The market so far this month<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">With four days into the new trading year, the Bitcoin network remains in the lead regarding NFT sales transactions. So far this year, the chain has recorded a sales volume of $61.08 million. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, Ethereum has seen an NFT sales volume of $27 million, according to data from CryptoSlam.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite the high activity on the Bitcoin network, the general market has witnessed a retracement in NFT sales activity in the last week. Data from <a href=\"https:\/\/nftgo.io\/analytics\/market-overview\" target=\"_blank\" rel=\"noopener\">NFTGo<\/a> showed a decline in NFT sales volume and market capitalization in the last seven days.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<figure id=\"attachment_362011\" aria-describedby=\"caption-attachment-362011\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.50.21.png\"><img decoding=\"async\" class=\"wp-image-362011 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.50.21.png\" alt=\"\" width=\"2560\" height=\"903\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.50.21.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.50.21-300x106.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.50.21-1024x361.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.50.21-768x271.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.50.21-1536x542.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-04-at-06.50.21-2048x723.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-362011\" class=\"wp-caption-text\">Source: NFTGo<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Information from the data provider showed that NFT sales volume in the general market had totaled $116 million in the last week, dropping by 10%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Likewise, the NFT market capitalization had reduced by 3% during the same period.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>December marked the second consecutive month that the Bitcoin network recorded a higher NFT sales volume than Ethereum.<\/p>\n","protected":false},"author":64,"featured_media":362013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,35,32,66,3,4029,4,20],"tags":[],"class_list":["post-362006","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-bitcoin-news","category-ethereum-news","category-new-news","category-news","category-nft","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - 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