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Bitcoin Flips Ethereum for the First Time in 24-Hour NFT Sales Shift  Skip to main content

Bitcoin Flips Ethereum for the First Time in 24-Hour NFT Sales Shift 

Bitcoin Flips Ethereum for the First Time in 24-Hour NFT Sales Shift 

On Wednesday, November 8, 2023, the Bitcoin blockchain saw its non-fungible token (NFT) asset sales surpass those on the Ethereum platform, marking a historic shift during a single-day span. According to the analytics provided by cryptoslam.io, Bitcoin-based NFT transactions amounted to $17.17 million, eclipsing the $15.77 million in Ethereum NFT sales recorded during the 24-hour period.

Bitcoin’s NFT Sales Eclipse Ethereum in Single-Day Surge

The trend for Bitcoin NFT transactions has seen an upward trajectory lately, and just three days ago, Bitcoin.com News highlighted that Bitcoin had secured the runner-up spot for NFT sales across a week. In a significant first, Bitcoin’s Ordinal inscriptions, its unique brand of NFTs, exceeded Ethereum’s sales over a 24-hour time frame on Wednesday.

NFT connoisseur Leonidas, the founder of Ord.io, documented this unprecedented event onchain, marking the occasion when Bitcoin-based NFTs leaped ahead of their Ethereum counterparts for the first time in history. Leonidas said:

Breaking – Ordinals just flipped Ethereum NFTs for the first time. So of course I had to inscribe it into Bitcoin forever.

Recently, Ordinal inscriptions witnessed a noticeable downturn in activity that persisted for over a month. This decline followed a peak in daily mints; afterward, the number of new inscriptions faced a persistent struggle until October 24. However, the tide has turned since then, and by November 4, the second-largest number of inscriptions was recorded in a single day, tallying 433,471.

Looking at a week’s performance in NFT sales, Ethereum has seen an increase, netting $79.61 million since Wednesday, November 1, 2023, which represents a 45.66% rise from the previous week, as reported by cryptoslam.io. In comparison, Bitcoin’s weekly NFT sales also enjoyed a rise, boasting a 661.60% increase from the prior week with sales hitting $55.52 million.

On Wednesday, the “$SATS BRC-20 NFTs” collection outperformed the Bored Ape Yacht Club (BAYC) series, climbing to the top of the sales chart. Trailing BAYC, the “$RATS BRC-20 NFTs” secured the third spot in sales over the past 24 hours. The chances of Bitcoin NFTs taking the upcoming week’s first-place spot are slim as Ethereum is already ahead by $24.09 million.

What do you think about Bitcoin flipping Ethereum for the first time in terms of daily NFT sales? Share your thoughts and opinions about this subject in the comments section below.

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