In NFT Sales, Bitcoin Jumps to No. 2 Spot in a Matter of Months

On-chain sleuth Lookonchain reported that the bankrupt lender Celsius had withdrawn over 6000 ETH in April.

According to data platform CryptoSlam, NFTs on Bitcoin have grossed about $167 million in the past thirty days, creeping up on Ethereum’s number one position.

Bitcoin-based nonfungible tokens (NFTs) have risen to second place for NFT sales per blockchain, according to Web3 data platform CryptoSlam, which is remarkable considering Bitcoin NFTs didn’t effectively exist before the enabling of inscriptions on the Bitcoin mainnet in January 2023.

The data shows that in the past thirty days, Bitcoin NFTs have grossed about $167 million, which is several figures shy of Ethereum’s near-$397 million.

“popular Sunday shows” on U.S. TV, with some also appearing during ad breaks of the NBA Finals series.

“Coinbase is launching Crypto: Moving America Forward, a national campaign to explain crypto’s critical role as an underlying technology that will update the global financial system,” the firm noted.

The campaign will also focus on overseas adoption of crypto and blockchain in countries like China, as the firm aims to highlight that the U.S. “global economic leadership and national security are at risk if the U.S. cedes its role in building technology that will be central to the world’s financial infrastructure.”

However, NFT sales on Bitcoin are nearly three times larger than on the Solana network, according to Cryptoslam, trailing behind at about $57 million.

Bitcoin’s accelerated rise to prominence in the NFT space is fueled by the Ordinals Protocol, a mechanism for inscribing satoshis, the smallest unit of bitcoin, with data such as a JPEG. While they’ve been met with criticism in the Bitcoin community, NFT giant Yuga Labs released their own Ordinals-based collection in February, fueling hype and capital into their adoption.

CryptoSlam reports Bitcoin Frogs as the current top Bitcoin-based NFT collection, which has earned $6.3 million in sales over the past seven days.