Bi-Weekly NFT: Bitcoin surpasses Ethereum in the NFT Market

by Angela
Bi-Weekly NFT: Bitcoin surpasses Ethereum in the NFT Market

The NFT daily trading volume has seen an increase across all major chains this week, with a notable shift in the top position. Bitcoin has overtaken Ethereum, boasting a trading volume of $32.73 million compared to Ethereum's $24.64 million. Following closely behind, Blast ranks third with $14.15 million, followed by Base at $2.49 million and Solana at $2.48 million.

Bitcoin's ascent to the top spot can likely be attributed to the anticipation surrounding the upcoming Bitcoin halving event. Additionally, announcements of new project launches such as Runes, a new token standard on Bitcoin created by the founder of Ordinals, are drawing more attention to the Bitcoin market. It is anticipated that this trend will further stimulate activity within the Ordinals ecosystem upon its launch.

The prominence of Bitcoin is also evident in marketplace volume and the top collections by trading volume. As observed two weeks ago, Magic Eden, led by Bitcoin chain at 64%, continues to lead in market share among NFT marketplaces, followed by Blur and OpenSea.


Here are the top 5 NFT collections across all chains based on trading volume over the past week, including the floor price and the percentage change in volume for each collection. Runestone has experienced a recent surge in volume due to its association with Runes, the new token standard mentioned above. It is said that transactions involving Runes are facilitated by these stones.


Here are the top five sales in the whole NFT market in the past 7 days:

  1. CryptoPunk #2306: 320 ETH ($1M)
  1. Autoglyphs #256: 145 ETH ($501K)
  1. Bored Ape Yacht Club #591: 92 ETH ($302K)
  1. Clone X #6155: 83.51 ETH ($278K)
  1. PUPS: 3.3738 BTC ($242K)

CryptoPunk #2306
Autoglyphs #256

The following are other noteworthy topics that have been discussed in the NFT market lately:

  • Based Punks (CryptoPunks inspired collection on Base, the art is highly praised by the many)
  • $FLIES - a token introduced by the famous 1/1 glitch artist XCOPY that can be wrapped around his newly released open edition NFT MUTATIO

Based Punks
Toxic Beast by XCOPY