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Bitcoin could displace Ethereum as the preferred network to sell NFTs

Bitcoin could displace Ethereum as the preferred network to sell NFTs

In the last 24 hours, Bitcoin has outperformed other networks such as Solana, Polygon, BNB, and Cardano.

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Until now, Ethereum is the preferred network for selling NFTs(abbreviation in English of non-fungible tokens). However, Bitcoin could take that place of preponderance. This is indicated by the figures registered in the last 24 hours, in which Bitcoin NFTs (BTC) by US$13.6 millionMeanwhile in ethereum they were sold US$14.8 millionaccording to the CryptoSlam site.

In the last 24 hours, bitcoin exceeds to other networks like Solana, Polygon, BNB and Cardano. Within this framework, he also managed to sneak into the historical ranking, more precisely in the top 10 preferred networks to sell NFT.

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What is the Bitcoin growth in NFT sales due to?

Two Bitcoin-Based NFT Collections are those that lead the market between all networks during the last 24 hours. The biggest is the collection Space Pepesthat records sales of more than US$7.2 million.

The inscriptions of Uncategorized Ordinals They rank second among NFTs that are growing Bitcoin’s preponderance in non-fungible token sales. These are tokens that may belong to smaller collections or have been sold independently.

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The Ordinals Complication

Ordinals transactions tend to be heavy. That’s why the Bitcoin (BTC) network was lately congested. Even currently the Bitcoin mempool presents high commissionsphenomenon produced due to the increase in the number of NFTs that are being issued.

The Ordinals were taking center stage during this year and that, at the same time, generated the appearance of conflicting positions within the community. For example, there are Bitcoin Core developers applying filters to block this type of transaction. While, among others, Binanceone of the largest markets in the world, announced that will start listing Bitcoin tokens on its NFT marketplace.

Source: Ambito

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