OKX NFT marketplace volume surpasses Blur, OpenSea amid Bitcoin Ordinals frenzy

OKX’s NFT marketplace has emerged as the leader in daily trading volume, surpassing competitors Blur and OpenSea, thanks to the demand for Bitcoin Ordinals NFTs. According to data from DappRadar, OKX NFT Marketplace recorded a 24-hour trading volume of $50.33 million, making it the largest NFT marketplace. Blur followed with a volume of $13.21 million, while Magic Eden, UniSat, and OpenSea trailed behind. Nick Ruck, COO of ContentFi Labs, attributed OKX’s success to its support for BTC Ordinals NFTs, which are not yet available on Blur and OpenSea. Meanwhile, the NFT trading volume on the Bitcoin network reached $305.44 million, surpassing Ethereum’s $93.45 million and Solana’s $90.74 million. R.J. Ke, a researcher at Ethereum scaling firm Taiko, noted the potential influence of saliency bias in cryptocurrency investment markets due to their relative immaturity and hype-driven nature. The industry has been buzzing about Bitcoin Ordinals, with many firms, such as Tap Protocol, raising funds to develop on the trend.