While the overall market for non-fungible tokens (NFTs) has seen a decline of over 38% in the past month compared to the previous one, NFTs minted on the Bitcoin blockchain have emerged as dominant players, accounting for more than 44% of sales. Here’s a closer look at the trend:

Bitcoin’s Dominant Influence on NFT Sales Continues

Bitcoin’s ascent in the NFT space remains noteworthy, surpassing 24 different blockchain networks over the past 30 days, including Ethereum. Data from cryptoslam.io indicates that Bitcoin-based NFTs have garnered a total of $3.43 billion in sales, securing the fourth position behind Ethereum, Solana, and Ronin.

The gap between Bitcoin and Ronin’s all-time sales figure of $4.26 billion is narrowing. Between March 27 and April 27, 2024, Bitcoin achieved $457.62 million in NFT sales, with only $716,035 potentially attributable to wash trading. Ethereum claimed the second spot with $262.37 million in sales during the same period, while Solana recorded $165.14 million in NFT sales, ranking third in terms of sales volume.

Standout Sales Figures and Highlights

During the aforementioned 30-day period, the highest-priced NFT sold was Cryptopunk #635 on Ethereum, fetching $12.41 million. On the Bitcoin blockchain, the top sale was Bitcoin Ape #2,301, which sold for $459,436. Notably, this NFT represents a byte-accurate transfer of the original Bored Ape Yacht Club (BAYC) to the Bitcoin blockchain through Ordinals. Following closely behind Bitcoin Ape #2,301 were eight other sales ranging from $254,062 to $354,801 each, all belonging to the Bitcoin Puppets collection.

Top-Selling NFT Collections on Bitcoin Blockchain

Four out of the five highest-selling NFT collections in the past 30 days originated from the Bitcoin blockchain. Leading the pack was Uncategorized Ordinals with $152 million in sales, followed by Bitcoin Puppets at $71.84 million, WZRD digital collectibles at $34.81 million, and Nodemonkes compilation at $34 million. Mythos’ Dmarket NFT collection ranked fifth, amassing $28.6 million in sales, as per cryptoslam.io’s 30-day statistics.

The dominance of Bitcoin in the NFT market underscores its growing influence and popularity within the digital asset landscape. As the competition among blockchain networks intensifies, Bitcoin’s continued performance in the NFT sector signals its enduring relevance and appeal to collectors and investors alike.