Bitcoin NFTs at all-time high sales volume at $4 billion

The NFT market has not gone well since the summer of 2021, but they are relatively popular on Bitcoin. Although sales in May are down 54%, the total sales volume of NFTs on Bitcoin has risen to $4 billion. Over the last 30 days, Bitcoin NFTs achieved a sales volume of $171 million.

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Bitcoin NFTs a far cry from Ethereum

Over the past month, Bitcoin was the largest in sales volume on NFTs, but in total the blockchain is still far behind Ethereum. While Bitcoin sold a total of $4 billion, Ethereum sold $43.8 billion.

Solana NFTs come in second with a total of $5.5 billion. However, the month of May has not been a good one for the entire industry. In April, $1 billion was sold, while the volume in May was only $624 million.

NFTs on Bitcoin were also affected. Sales on Bitcoin’s blockchain were 68% lower in May than in April.

Do you still invest in NFTs or do you no longer believe in this form of tokens after the long bear market?

On-chain transaction volume at record highs

Not only NFTs on Bitcoin are popular, normal transactions are also popular. On May 28, a record for 2024 was set. On that day, Bitcoin’s on-chain volume reached $25.5 billion.

On that day, Bitcoin holders moved approximately 367,000 BTC on the blockchain. At the day’s exchange rate of about $69,000, the total stood at $25.5 billion. At the moment Bitcoin has also got it.

The Bitcoin price is up 2.45% today, bringing the price to $70,890. This gives Bitcoin a market cap of almost $1.4 trillion. Ethereum may be big in NFTs, but in terms of market cap it is still far behind Bitcoin. Ethereum’s market cap is currently $458 billion.

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