Bitcoin Ordinals have taken the NFT market by storm and are currently the town’s talk. Recently, a project called Bitcoin Frogs generated more than $2.2 million in volume in a single day. Here’s everything you need to know.
The world of NFTs is buzzing with excitement as a fresh player takes center stage. Meet Bitcoin Frogs, a recently launched collection of 10,000 unique NFTs featuring adorable frog-themed artwork. Since its debut in late February, this collection has skyrocketed, amassing an impressive trading volume of over $2.2 million in just 24 hours. Bitcoin Frogs has hopped its way to success in the fast-paced NFT market.
The Rise of Bitcoin Frogs and Bitcoin NFTs
Bitcoin Frogs’ swift rise sheds light on the increasing demand for NFTs minted on the Bitcoin blockchain. While Ethereum remains on top in NFTs, Bitcoin’s influence is gaining momentum. The Frogs have passed Solana in trading volume by over $30 million in the past week, showing its potential to shake up the status quo.
Within the last week, the collection has reached an impressive trading volume of 139 BTC ($3,782,300). In addition, each NFT’s current floor price is currently 0.115 BTC ($3,129). These figures demonstrate the value placed on these frogs and their increasing popularity in the NFT market.
Bitcoin Ordinals Creep Up on Ethereum
Bitcoin Frogs has made waves by outperforming reputable NFT collections, including the infamous Bored Ape Yacht Club. It seems that Bitcoin Frogs’ potential for continued success is almost a sure thing. With a total sales volume of $7,530,033.19 (278.2482 BTC) in May alone, this collection of 10,000 frog-inspired digital collectibles is making its mark.
While the average sale price for a Bitcoin Frogs NFT sits at around $3,000 (0.12 BTC), recent sales show the potential of this project. In the last day, the highest sale was recorded at a staggering $38,500. Despite the high prices, continued trading volume suggests that Bitcoin Frogs continue to capture attention. With 2,8 unique holders since their debut, both newcomers and traders are willing to pay fees ranging from $50 to $1,200 to be a part of this collection.
Bitcoin Frogs is powered by Deezy. Deezy serves “businesses, node runners, creators, and collectors”. It facilitates seamless integration between on-chain and lightning networks with fast apps and products. This ensures enhanced payment reliability through their well-connected nodes. Therefore, a part of the Frog’s success must be credited to Deezy.
Additionally, software for the Bitcoin Future empowers artists by assisting them in launching their NFTs on the Bitcoin network. With inscription services, creators have the freedom to design, inscribe, launch, and sell their unique collections. This commitment to helping artists and collectors plays a vital role in creating a thriving ecosystem.
The rapid rise of Bitcoin Frogs in the NFT market shows the increasing impact of Bitcoin-based NFTs. Amassing more than $2.2 million in trading volume within 24 hours is very impressive. As the NFT industry continues to evolve, innovative projects like Bitcoin Frogs outline the ever opportunities for artists, collectors, traders, and degens.
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This article is educational material.
As always, make your own research prior to making any kind of investment.
