- Bitcoin NFTs sales volume has touched $4 billion setting a new record despite a slump in the collectibles market
- Bitcoin leads Ethereum and Solana in NFT sales volume in the last one month
- Bitcoin’s lead is likely fueled by BTC’s rising price
The sales volume of Bitcoin NFTs has reached an all-time high of $4 billion, although $82 million has been attributed to wash trades. According to NFT sales tracker CryptoSlam, the Bitcoin NFT world has attracted over 521,565 and 435,916 NFT buyers and sellers, respectively. The platform also disclosed that the Bitcoin blockchain beat Ethereum and Solana in collectibles sales in the last 30 days, an indication that the Bitcoin NFT space is gaining popularity among collectors.
Ethereum Hits Over $43 Billion in Sales Volume
Bitcoin has handled slightly above 3 million NFT transactions since January 2023. Last month, the blockchain recorded collectibles’ sales volume of $158 million and has registered a volume of close to $20 million this month.
The May sales volume is the lowest monthly volume so far this year, with the highest this year being March at $583 million and the all-time highest month being December 2023 with a volume of $869.7 million.
Ethereum comes a close second with $159 million in sales volume in the last one month with Solana registering $90 million in NFTs sales volume within the same time frame. Ethereum, Solana and Ronin lead in all-time NFT sales volume at $43.8, $5.6, and $4.2 billion respectively excluding volume from wash trades.
NodeMonkes and Runestone Among Top Bitcoin NFTs
NodeMonkes, Sats BRC-20, Runestone and Bitcoin Puppets are among the top Bitcoin NFT collections by sales volume. The collections have a sales volume of between $130 and $250 million. Uncategorized Ordinals inscriptions have the highest all-time sales volume of $713 million.
Bitcoin’s new milestone comes three months after NFT sales on Bitcoin rose by 77% within a week. It also comes three months after NodeMonkes NFTs’ market cap eclipsed that of Ethereum’s Bored Ape collection and two months after Binance ceased support for Bitcoin NFTs.
Although the new milestone is likely fueled by a growing interest in Bitcoin NFTs, BTC’s rising price has also played a key role.
