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Bitcoin is now the second largest chain by NFT volume

Bitcoin NFT volume has surged since NFT functionality was enabled via the Ordinals protocol.

James Van Straten
May. 23, 2023 at 9:57 am UTC
1 min read
Updated: May. 23, 2023 at 9:57 am UTC

Quick Take

  • Bitcoin is now the second-largest chain by NFT volume.
  • According to The Block, this trend began in the first week of May, closing that period at $14 million.
  • By May 8, NFT volume rose to $51 million but fell to $31 million the following week.
  • Ethereum continues to dominate NFT volume, consistently achieving over $60 million on a week-over-week basis. Nonetheless, Bitcoin has taken a significant market share.
NFT Volume: (Source: The Block)
NFT Volume: (Source: The Block)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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