nft/home” data-wpel-link=”external” target=”_blank” rel=”nofollow external noopener noreferrer”>bitcoin nfts have reached a major milestone, CryptoSlam announced on June 4 that bitcoin nfts surpassed $4 billion in total sales. This includes $3.97 billion in actual sales and $82 million in wash sales. This happened even though the nft market suffered a huge drop in May.
Over the past 30 days, bitcoin-based nfts have shown strong performance. They recorded a sales volume of 171 million dollars. This put bitcoin at the top of sales volume among blockchains for the month. ethereum followed with $159 million in sales, while Solana recorded $90 million.
Comparison with ethereum and other blockchains
Despite recent success, bitcoin nfts are still lagging in overall sales. The Ronin Blockchain It ranks third with $4.2 billion in all-time sales. Solana nfts are in second place with $5.5 billion. ethereum remains the leader with impressive sales of $43.8 billion.
Top five blockchains by sales volume of all time. Source: CryptoSlam
The overall nft market faced a slowdown in May. Sales volumes fell by 54% compared to April. In April, the market recorded more than $1 billion in sales. May recorded only 624 million dollars. This drop also affected bitcoin nfts. bitcoin-based collectibles saw a 68% drop in sales in May.
bitcoin transaction value spikes
bitcoin witnessed a new record in transaction value, along with its success in nft sales. On May 28, bitcoin-related transactions exceeded $25 billion, the highest value recorded in the last year. Data from Blockchain.com revealed that bitcoin holders moved approximately 367,000 btc that day. Notably, the price of bitcoin was around $69,000 at the time, contributing to the collective transaction value of $25.5 billion.
bitcoin nfts have achieved a major milestone despite the market crash. Recent performance has been strong, but ethereum still dominates total sales volume. The value of bitcoin transactions has also reached a new yearly high, showing strong activity on the network.
