TL; DR
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Yesterday, trading volume for OKX’s NFT platform exceeded $50 million, making it the largest NFT marketplace by daily trading volume, putting Blur (the previous market leader) in a distant second place with just over $13 million.
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The friendship started earlier this year, when OKX became one of the first mainstream marketplaces to support the buying/selling of Bitcoin Ordinals.
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The monthly ‘ping-pong’ of market dominance between the NFT platforms doesn’t happen in mature industries, which reminds us we are still so early!
Full story
Did the OKX exchange and Bitcoin Ordinals (aka Bitcoin NFTs) just become best friends?
YEP! Looking forward to it.
Yesterday, trading volume for OKX’s NFT platform exceeded $50 million, making it the largest NFT marketplace by daily trading volume, putting Blur (the previous market leader) in a distant second place with just over $13 million.
And it was all thanks to Bitcoin Ordinals.
The friendship started earlier this year, when OKX became one of the first mainstream marketplaces to support the buying/selling of Bitcoin Ordinals.
Turns out this was a smart move, because:
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Bitcoin Ordinals exploded in popularity.
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Other competing NFT marketplaces were slow to embrace Ordinals, giving OKX a commanding lead.
“Okay, that’s nice. But why is this in the ‘đź’…This is cool‘section”
Because this time last year, OpenSea was the #1 NFT marketplace (by distance).
…and a few months later it was Blur.
Now, less than a year after Blur took control, OKX has replaced it.
This kind of month-to-month “ping-pong” of market dominance doesn’t happen in mature industries.
All of this helps remind us that even though the crypto industry is almost 15 years old:
We’re still so early!