Bitcoin NFTs CryptoSlam has announced, on the 4th of June that sales for Bitcoin NFTs have exceeded $4 billion. It includes real sales of $3.97billion and wash sales worth $82m. The NFT market experienced a significant drop in May.
Bitcoin NFTs showed a strong performance in the last thirty days. A total of $171 million was recorded as a volume. Bitcoin was ranked first for blockchain sales for this month. Ethereum came in second with $159 Million, and Solana was third with $90,000,000.
Comparative Analysis with Ethereum and Other Blockchains
Bitcoin NFTs are still behind the overall market despite recent successes. The Ronin blockchain The company is ranked third with sales of $4.2 billion. Solana NFTs are ranked second, with sales of $5.5 billion. Ethereum is still the market leader, with sales of $43.8 billion.
In May the NFT market as a broader term experienced a downward trend. The sales volume dropped 54% from April. Sales in April exceeded $1 billion. Only $624 Million were sold in May. The decline in Bitcoin NFTs was also felt. Sales of Bitcoin collectibles dropped by 68% in May.
Bitcoin Transaction Value Peaks
Bitcoin has seen a record-breaking increase in the value of transactions, along with its successes in NFT. Bitcoin transaction values surpassed $25 billion in May, the most recent record. Blockchain.com revealed that Bitcoin holders moved approximately 367,000 BTC on May 28. Bitcoin was trading at around $69,000, which contributed to the $25.5 billion worth of transactions.
Bitcoin NFTs are a major milestone, despite the recent market decline. The recent performance was strong but Ethereum continues to dominate the total sales volume. Bitcoin’s value of transactions has reached a record high for the year, which shows a lot of activity.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: nftevening.com