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Binance cryptocurrency exchange has said that they will cease to support Bitcoin Non-Fungible Tokens (NFTs).
The ‘In’ a blog post Binance sent a message to users on April 4 informing them that, as of April 18th, they would no longer be allowed to purchase, sell, deposit or list Bitcoin Non-Fiat Transactions. Also, users were told to withdraw all Bitcoin NFTs they held before May 18,
Binance NFT Market will cease offering airdrops and other benefits or utilities related to Bitcoin NFTs as of April 10, 2019.
There are no specifics about the ending of Bitcoin NFT support. Binance frames the decision as being part of their overall business strategy. “ongoing efforts to streamline product offerings.”
Binance began supporting Bitcoin NFTs in its market back in 2023. It expanded its offering beyond BNB Chain and Polygon. Binance launched a new product just last month. Bitcoin NFT-focused word-guessing game As part of its “Word of the Day (WOTD)” Initiative that offers users the opportunity to earn rewards and learn.
Many people were surprised by the recent announcement that Bitcoin NFTs would no longer be supported, particularly when they considered the performance of Bitcoin NFTs from their launch in January 2023.
Bitcoin NFTs will reach unprecedented levels in 2023. $881 million By the end of this year. Bitcoin NFT sales have surpassed $500,000 in the last month. $500 millionThe price of Bitcoin has surpassed that of Ethereum and Solana.
It is likely that the successful sales and auctions of Bitcoin-NFTs are responsible for this increase in sales. Noteworthy, the Taproot Wizards Bitcoin NFT collection dubbed “Quantum Cats“, which totaled $12.9 millions. Sotheby’s closed its “Natively DigitalBitcoin NFT was sold in the same month and generated more than $1 million.
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Source: blog.cryptoflies.com