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Home»NFT»BRC-20 tokens make up 45% of ordinal trading volume: Analyst
NFT

BRC-20 tokens make up 45% of ordinal trading volume: Analyst

2023-05-29No Comments2 Mins Read
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In a recent tweet, a research analyst named Tom Wan shared some insights regarding BRC-20 tokens and BTC Ordinals. According to the post, 45% of ordinal trading volume is attributed to BRC-20 tokens, while Ordinals (ORDI) account for 22.1%.

As a result, the analyst posed a thought-provoking question of whether to consider all ordinal numbers as NFT volume or whether it should be limited to the image-inscribed ordinal numbers. This follows news of trading volume for Bitcoin (BTC) Ordinals surpassing that of Solana-based NFTS – making their trading volume second to Ethereum-hosted NFTs.

NFT sales for every blockchain in the last 30 days (Source: Twitter)

In the last 30 days, the total trading volume for BTC Ordinals reached $172,082,539, which is an increase of 406.01%. During this time, trading volume for ETH NFTs dropped 26.46% to $395,037,686.

At the time of writing, CoinMarketCap indicated that both BTC and Ethereum (ETH) have experienced price increases in the past 24 hours. BTC switched hands at $26,418.97 after printing a 24-hour gain of 0.52%. Meanwhile, the price of ETH stood at $1,809.58 after rising 1.39% over the past day.

The market leader managed to hit a daily high of $26,591.52 but has since retreated. The lowest point in 24 hours was $26,121.83. Like BTC, ETH has also fallen from its daily high at $1,815.99, with its 24-hour low at $1,777.93.

Both cryptos experienced declines in their daily trading volume. At the time of writing, ETH’s trading volume was $5,414,599,653, down 22.47%. BTC trading volume was down 20.71% and stood at $12,676,643,115.

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disclaimer: The views and opinions, as well as all information shared in this price analysis, are published in good faith. Readers should do their own research and due diligence. Any action taken by the reader is strictly at your own risk. Coin Edition and its affiliates cannot be held liable for any direct or indirect damage or loss.


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Analyst BRC20 Ordinal Tokens Trading Volume
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