Bitcoin is now the second largest chain by NFT volume

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

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.

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)