Bitcoin NFT Market Pumps 20% As BTC Price Climbs Back To $70K Levels
The crypto market, spearheaded by the flagship crypto, Bitcoin, is skyrocketing again after several weeks of consolidation.
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The crypto market, led by the flagship cryptocurrency Bitcoin, is once again skyrocketing after several weeks of consolidation. Earlier this week, Bitcoin price climbed back to $70,000 levels and has since been blasting towards $73,000 a few hours ago. Meanwhile, the non-fungible token market has also turned positive, with global NFT sales volume pumping to $11 million during this short crypto market rally.
Source: Coinmarketcap.com; Bitcoin trading activity in the past 24 hours
As a reminder, the crypto and non-fungible token markets are closely linked, like a mother and child. So the impact in the crypto market is often delegated to the non-fungible token market. There is a strong crossover between cryptocurrency market participants and NFT market participants. This happens because cryptos are often used to pay for NFTs.
Daily NFT Sales Jump 4%, As Bitcoin NFTs Pump 20%
According to data recorded by cryptoslam.io, an on-chain non-fungible token market data aggregator, the global NFT market has turned positive today, mainly due to the recent resurgence in the crypto market. In the past 24 hours, the NFT market has amassed a trading sales volume of $11 million, which is 4.57% less than the past day. During this period, NFT buyers have decreased by 21%.
Source: cryptoslam.io, NFT sales volume by blockchain networks in the past 24 hours
NFTs created on Ethereum, the blockchain network that is popular in the NFT market for powering most blue-chip NFT collections, are the best-selling NFT collections in the NFT market today. In the past 24 hours, Ethereum-based NFTs have amassed a trading sales volume of over $3.9 million. During this time, the Ethereum-based NFT trading sales volume has surged 11% from the past day.
NFTs created on Bitcoin, the same blockchain network that powers the flagship cryptocurrency Bitcoin and is popular in the NFT market for hosting BRC-20, Runes, and Ordinal collections, are the second best-selling NFT collection today. In the past 24 hours, Bitcoin-based NFTs have attracted a trading sales volume of $2.4 million, which is a 20% surge from the previous day.
Top Bitcoin NFT Collections Today, October 30
Bitcoin Puppets, an Ordinals collection featuring a limited supply of 10,001 unique PFPs (profile pictures) hand-drawn in MS Paint by a 12-year-old artist, is the best-selling Ordinals collection in the Bitcoin NFT market today. In the past 24 hours, the Bitcoin Puppets NFT collection has amassed a trading sales volume of $554,518. The Bitcoin Puppets NFT sales volume has surged 63% from the past day.
Source: cryptoslam.io, top-selling Bitcoin-based NFTs by volume in the past 24 hours
Quantum Cats, an NFT collection from the digital asset Taproot Wizard featuring a limited set of 3,333 cat images minted using Ordinals Inscriptions, is the second best-selling NFT series in the Bitcoin NFT market today. In the past 24 hours, the Quantum Cats NFT collection has attracted a trading sales volume of $390,352. Quantum Cats NFT trading sales volume has surged 137% from the past day.
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