- Today trading volume for this position exceeded $2.3 million
- The Ordinals collection was the most popular on all platforms
- It consists of 10 thousand bitcoin frogs with various attributes
- The token threshold value is $3.7 thousand
The Bitcoin Frogs NFT collection exceeded $2.3 million in trading volume on May 17-18.
As of this morning, it is the best-selling position in the market, leaving both new Ordinals-based offerings and blue-chip stocks such as BAYC far behind.
This was reported by the Degen News Twitter community, confirming the statement with screenshots from analytics sites.
Note that Bitcoin Frogs is an NFT collection of 10,000 tokens based on the Ordinals protocol.
The item is available on several marketplaces, in particular Magic Eden and Gamma. The complete list is available here. The threshold value of tokens at the time of writing is 0.1388 BTC ($3.7 thousand).
The collection is rapidly gaining popularity. During the day, the volume of transactions for this position exceeded the figure of 700 units.
In May, the total amount of transactions amounted to about $5.9 million. For comparison, according to CryptoSlam!, overnight turnover on the BAYC position was $1.3 million.
Degen News has a different figure: $736,600. But somehow or other, this position still lags behind Bitcoin Frogs.
The Ordinals protocol was first introduced in February. OKX recently announced that it will add support for this position.
However, “ordinals” and tokens based on BRC-20 create an additional load on the Bitcoin network, and some developers are even advocating blocking them.
In addition, BRC-20 tokens create an additional load on the Bitcoin network, and some developers are even advocating blocking them.