It is quickly becoming clear that 2023 is the year of Bitcoin Ordinals. While open editions and memecoins each took the spotlight for their respective 15 minutes of fame, NFTs on the world’s first blockchain have gained traction during the ups and downs of the NFT market.
Of course, the historic crypto network has long laid claim to its place as the number one chain in terms of market cap. But now Bitcoin is slowly creeping to the front of the non-fungible pack in a bid to be crowned the top NFT also blockchain – and it is already in second place.
A rapid rise to the top
According to the popular NFT industry data aggregator, CryptoSlam, Bitcoin has easily secured the No. 10 spot in the ranking for the best NFT blockchains of all time based on sales volume. Still, something changed over the past month, helping the chain generate enough NFT revenue to rise to the number two spot in breadwinners over the 30-day period.
In fact, on the 30-day chart, Bitcoin has essentially blown its competition out of the water. While Ethereum remains at the top with around $393 million in volume, Bitcoin lags behind at more than $169 million, more than double Solana’s third place at $55 million.
And it’s no longer just uncategorized ordinal numbers that point the way to Bitcoin’s victory, as several organized collection efforts have seen success along the chain in recent months. Two of the most popular are undoubtedly Space Pepes and Bitcoin Frogs, each of which generated significant sales volume ($12 million and $9.6 million respectively) in the past 30 days alone, according to CryptoSlam.
Although Bitcoin Ordinals have only been around for a few months, their influence has already become undeniable. From big brands to landmark projects finding a home on the blockchain, it’s no surprise that “Bitcoin NFTs” have seen the seasoned chain as one of the top performers of NFT sales volume.
Of course, it will take some serious trading for Bitcoin to beat Ethereum for the top spot. But with BRC20 tokens at the forefront of the Ordinals ecosystem, inscriptions approaching the nine million mark, and the number of Bitcoin NFTs continuing to rise month after month, the call for a “flipping” may not be that far off.