Bitcoin is now the second largest chain by NFT volume

Bitcoin NFT volume has surged since NFT functionality was enabled via the Ordinals protocol.

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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Quick Take

  • Bitcoin is now the second-largest chain by NFT volume.
  • According to The Block, this trend began in the first week of May, closing that period at $14 million.
  • By May 8, NFT volume rose to $51 million but fell to $31 million the following week.
  • Ethereum continues to dominate NFT volume, consistently achieving over $60 million on a week-over-week basis. Nonetheless, Bitcoin has taken a significant market share.
NFT Volume: (Source: The Block)
NFT Volume: (Source: The Block)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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Bitcoin BTC (24h)
$79,620.47 -1.41%
Market Cap $1.59T
24H Volume $33.62B