The trend for Bitcoin NFT transactions has seen an upward trajectory lately, and just three days ago, Bitcoin.com News highlighted that Bitcoin had secured the runner-up spot for NFT sales across a week. In a significant first, Bitcoin’s Ordinal inscriptions, its unique brand of NFTs, exceeded Ethereum’s sales over a 24-hour time frame on Wednesday.
Bitcoin and Ethereum 24-hour NFT sales volume according to cryptoslam.io on November 8, 2023, at 1:15 p.m. Eastern Time.
NFT connoisseur Leonidas, the founder of Ord.io, documented this unprecedented event onchain, marking the occasion when Bitcoin-based NFTs leaped ahead of their Ethereum counterparts for the first time in history. Leonidas said:
Breaking – Ordinals just flipped Ethereum NFTs for the first time. So of course I had to inscribe it into Bitcoin forever.
Recently, Ordinal inscriptions witnessed a noticeable downturn in activity that persisted for over a month. This decline followed a peak in daily mints; afterward, the number of new inscriptions faced a persistent struggle until October 24. However, the tide has turned since then, and by November 4, the second-largest number of inscriptions was recorded in a single day, tallying 433,471.
Looking at a week’s performance in NFT sales, Ethereum has seen an increase, netting $79.61 million since Wednesday, November 1, 2023, which represents a 45.66% rise from the previous week, as reported by cryptoslam.io. In comparison, Bitcoin’s weekly NFT sales also enjoyed a rise, boasting a 661.60% increase from the prior week with sales hitting $55.52 million.
On Wednesday, the “$SATS BRC-20 NFTs” collection outperformed the Bored Ape Yacht Club (BAYC) series, climbing to the top of the sales chart. Trailing BAYC, the “$RATS BRC-20 NFTs” secured the third spot in sales over the past 24 hours. The chances of Bitcoin NFTs taking the upcoming week’s first-place spot are slim as Ethereum is already ahead by $24.09 million.
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