OKX Launches First-Ever Bitcoin Ordinal NFT Collection

OKXNFT launched the world’s first Bitcoin Ordinal NFT collection.
Ethereum continues to dominate the blockchain market with the highest number of transactions.
In February, the trade volume of NFTs surpassed $2 billion, indicating a flurry of activity and positive developments in the NFT market.

OKXNFT marketplace has made a groundbreaking announcement, revealing the launch of the world’s first Bitcoin Ordinal NFT collection. Buyers and sellers can use ETH or any other ERC20 coin to trade BTCNFT on the platform, and OKX has verified the authenticity of each item listed. EmblemVault enables users to withdraw their NFTs to their BTC wallet securely.

The collection, featuring 3,500 unique items, has a floor price of 1.09 ETH, and it has already attracted over 1,500 owners since its release. The collection’s trade volume has skyrocketed, reaching 5,430 ETH at the time of writing, proving the immense popularity of BTCNFTs among crypto enthusiasts.

The NFT market has experienced a flurry of activity and positive developments since the LUNA collapse. In February, the trade volume of NFTs surpassed $2 billion, representing a staggering 117% growth from the previous month. Despite the impressive trade volume, revenues declined by 31.46%, dropping from 9.2 million in January to 6.3 million in February.

In the rapidly evolving world of blockchain technology, Ethereum (ETH) has continued to dominate the market with the highest number of transactions. In February 2023, Ethereum’s trade volume increased by a staggering 174% from $659 million in January to $1.8 billion. This remarkable achievement solidified ETH’s position as the blockchain with the highest amount of transactions, representing 83.36% of the overall market for this digital asset.

Solana (SOL) and Polygon (MATIC) followed ETH, with trading volumes of $75 million and $39 million, respectively. Although these two cryptocurrencies are still far behind ETH in terms of trading volume, their rapid growth in recent times indicates a promising future for the blockchain market.

Interestingly, when it comes to total trading volume, Blur outpaced OpenSea in February. With a trading volume of over $1.3 billion, Blur emerged as the top performer, leaving OpenSea in second place with $587 million. These data suggest that Blur is responsible for 64.8% of the overall trading volume on the market, while OpenSea accounts for 28.7% of the total trading volume.

It’s worth noting that the blockchain market is incredibly dynamic and constantly changing. As new blockchain projects emerge and existing ones evolve, the landscape will continue to shift. Nonetheless, these figures highlight the continued dominance of Ethereum and the promising potential of other blockchain projects such as Solana, Polygon, Blur, and OpenSea.

Read Also :

Munene Kelvin

Kelvin enjoys writing about cryptocurrency and blockchain. He started blogging in 2019 and switched to cryptocurrency in 2020. Kelvin is interested in technology, football, chess, and Defi. He wants decentralization to benefit everyone on the planet.