Bitcoin Frogs’ NFT sales leapt to the top spot
The recently minted Bitcoin frogs The NFT collection is shocking the digital art market. Launched just months ago, these “cryptographic amphibians” took the top spot as the top-selling collectibles, continuing to outpace recognized OG NFTs as the never-so-familiar Boring monkeys.
Showcasing an ongoing frog trend, Space Pepe has just taken over the pole position, but fear not — the future of Bitcoin Frogs is still bright. Representing 10,000 frog-inspired digital collectibles, Bitcoin Frogs will launch on the Bitcoin Ordinals platform in late February, and have a total sales volume of $7,530,033.19 (278.2482 BTC) in May alone.
Currently, the average selling price for a Bitcoin Frogs NFT hovers around $3k (0.12 BTC). However, the highest sale in the last 24 hours (a few moments ago) was a whopping $38.5k. While these prices may seem daunting, the buoyant trading volume suggests otherwise. Trading volumes reveal the ongoing appeal of such NFTs, bringing in 2,815 individual holders since their debut. Market participants, including novice and experienced NFT traders, show extra dedication by shelling out $50 to an eye-popping $1.2k in transaction fees.
Ordinals drive Bitcoin Frog’s NFTs to greater heights
The remarkable rise in popularity of Bitcoin Frog collectibles ties into the groundbreaking Ordinals protocol. This innovative platform unlocks a new realm in the NFT world, facilitating the issuance and creation of unique tokens directly on the Bitcoin blockchain.
Ordinal’s most identifiable features allow users to ‘inscribe’ digital works of art onto the blockchain network through Bitcoin transactions, representing a shift in how art and blockchain technology are implemented. The monumental acceptance of this revolutionary process is transparent, showing 3 million inscriptions per month, surpassing 1 million inscriptions in less than three months of launch. Bitcoin Frogs have risen in fame due to capitalizing on the ongoing trend. This new approach streamlines the trading and creation process of NFTs, attracting an engaged and diverse audience.
The synergy between Ordinals and Bitcoin Frogs NFTs shows the potential for the development of the NFT realm. The protocol’s approach could be a game-changer for artists, investors and projects in the chain. Bitcoin Frog’s success is a testament to the impact of cutting-edge technologies, art and the Ordinals protocol.
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*All investment/financial opinions expressed by NFT Plazas are from personal research and experience of our site moderators and are intended as educational material only. Individuals are required to research all products before making any type of investment.
Self-proclaimed digital art fanatic who brings a unique perspective to NFT news.