Bitcoin’s native NFTs or non-fungible tokens are called ‘Ordinals.’ Interestingly, these are currently on the verge of simply surpassing our favorite, Ethereum, in the whole NFT market, as per the data we checked out on Crypto Slam!
Ordinals have witnessed pretty significant growth in both numbers of active buyers as well as sales obtaining a solid growth of 129.50% in terms of USD sales as well as attracting somewhere close to ten percent of the whole buyer market. Currently, Ethereum is still leading the NFt market with total sales of over 24 million USD.
However, the rapid increase of Bitcoin’s Ordinals is suggestive of an imminent ‘flip.’ Ordinals have been gaining traction rapidly since their actual inception only months ago in April. These digital assets are unique and inscribed on Bitcoin’s smallest unit, satoshi.
The creation of these assets was first facilitated by the well-known Taproot upgrade initially launched in November 2021 on Bitcoin’s network. This upgrade made data inscription on the Bitcoin network possible in a way very similar to creating non-fungible tokens on different blockchain platforms.
Since the launch of Ordinals, these have been causing a stir in the whole crypto community for setting records of inscribed numbers on more than one occasion.
Apart from Ethereum’s NFTs and Bitcoin’s Ordinals, multiple other blockchains have also made impactful strides in the NFT sector. For instance, Solana actually has third place in terms of showing solid growth sales with a whopping 44.61% of total sales worth 1.2 million dollars – plus, Solana also attracted 31.40% of buyers, which is clearly more than the market share of Ethereum buyers.
Polygon closely follows Solana in the 4th position with an increase of 30.75% in sales worth 1.3 million dollars. The BNB chain is on the 5th spot with total sales worth 856,027 dollars and a 7.54% of buyer share. Finally, inspite of having a sales growth of 36.22% worth 346115 dollars, Cardano is in the 6th spot.