The NFT sector⁣ continues to thrive ⁢as tokenization technology gains mainstream acceptance. The⁤ broader crypto market has shown ⁢impressive recovery in recent ⁢days,‍ and the NFT market⁤ has followed suit with ⁢significant gains. Bitcoin has ⁢emerged as a dominant force in the NFT market, with a significant increase in‍ sales, outperforming other platforms for non-fungible tokens such as Ethereum, BNB, and‍ Solana.

Bitcoin Blockchain NFT Sales Increase by 74%

Bitcoin has established itself as⁤ the leading ​blockchain for non-fungible tokens (NFT) since the start of the week. According to data from CryptoSlam, Bitcoin ⁢NFT sales on Monday recorded a 24-hour increase of 74%.⁤ The data revealed that the Bitcoin blockchain saw $21.11 million in NFT⁤ sales, a⁢ substantial increase from ​Sunday’s sales of $12.13 million.

The number of transactions ⁣also increased from ⁣5,773 on Sunday to 6,759 on Monday,⁣ marking a 17% ‍increase.‍ This suggests a rise in the overall activity level within‌ the period. Despite Bitcoin leading in NFT sales data, Ethereum experienced a ⁣21% drop in NFT sales,‌ bringing its ⁢total sales volume to​ $12.41 million. Solana followed with a 32% increase ⁣in sales, taking the total sales volume to ​$10 million.

Bitcoin’s Dominance in the NFT Market

The dominance of the Bitcoin blockchain in⁢ NFT sales has⁣ surprised⁣ many industry⁤ observers. It ⁢has outperformed Ethereum and Solana, two big names that have⁣ dominated the ‍NFT industry in ⁣recent years. However, Bitcoin’s NFT sales volume on Monday ⁣dropped ‌by $1 million⁣ from Friday, March 15. Despite this, ‌the network emerged as the top performer on Friday, with an 86%⁤ sales increase.

The number‍ of‌ NFT transactions on the blockchain ‌reached 6,835, reflecting a 19% increase on Friday. ​Notably, with such an increase, Bitcoin was ahead of Ethereum, Solana, and other blockchains. Following its performance last ⁣Friday, Bitcoin’s NFT all-time sales volume rose ‍to $2.8 billion. It now ranks fourth among all blockchains‍ in terms of NFT sales volume.

Bitcoin’s ⁣Performance in the Broader Crypto Market

Last week, Bitcoin broke a new record in its price trend in the history of cryptocurrency, reaching a new all-time high of $73,750 on March 14,‍ 2024.‌ The flagship​ crypto asset surpassed its previous ATH of over $69,000 in 2021. The broader crypto market ⁢responded and followed Bitcoin’s trend as almost all⁤ assets surged significantly. Subsequently, the cumulative⁢ crypto market cap surged ​to ⁣over $2.78 trillion.

However, the‍ trend has changed as​ Bitcoin lost over $10,000 from its new‌ ATH.‌ Other tokens are not ⁤left behind in the price retraction. The⁢ overall crypto market cap has slipped to $2.4​ trillion, indicating a 6.67% decrease within the past day.

Rekt ⁢Capital, a renowned crypto⁢ analyst, offers some explanation regarding BTC’s ⁤price decline. ‍In his post on the X platform, the analyst talked about some stages of Bitcoin Halving.⁣ He pointed out that Bitcoin’s ‍price retreat takes place between 14 to 28 days before the halving event and could linger for multiple weeks.


  • What is the current trend in ⁣the NFT market? The NFT market is currently experiencing significant growth, ‌with ⁤Bitcoin emerging as a dominant force.
  • How much did Bitcoin NFT sales increase? Bitcoin NFT‍ sales recorded a 24-hour increase⁣ of 74% at the start of the week.
  • What is the current state of the ⁤broader crypto market? The broader crypto market has seen a decrease, with⁤ the ‍overall crypto market cap slipping to $2.4 trillion.