Satoshi

Bitcoin

ORDI

Polygon

<p class="is-style-lead">Data shows that the trading volume of Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) non-fungible tokens surpassed that of popular blockchains like Solana, Mythos, and Polygon in the last 30 days. Bitcoin’s new fame in digital collectibles can be attributed to the current ordinals and BRC-20 token standard trend.</p><p>While <a href="https://crypto.news/buterin-raises-concerns-about-extending-ethereums-consensus-beyond-core-functions/" rel="noopener noreferrer nofollow">Ethereum</a> and other blockchains have ruled the digital collectibles space over the years, the growing popularity of ordinals and the <a href="https://crypto.news/brc-20-tokens-add-triple-digit-gains-as-pepe-bitcoin-slip/" rel="noopener noreferrer nofollow">BRC-20</a> token standard is fast bringing a paradigm shift in the multi-billion dollar non-fungible token (<a href="https://crypto.news/pepe-losing-investors-after-nft-scam-while-capital-and-interest-flow-to-digitoads/" rel="noopener noreferrer nofollow">NFT</a>) ecosystem.</p><p>According to data released by CryptoSlam, an NFT industry data aggregator, the Bitcoin blockchain has emerged as the most popular chain for NFT minting in the last 30 days, surpassing leading networks such as Polygon, Cardano, Solana, and others.</p><p>Though Ethereum remains the number one chain for NFT market participants, with a sales volume of $392,218,651 between April 23 to May 23, Bitcoin accounted for the second-largest digital collectibles sales volume ($171,473,301) during the same period.</p><div class="cn-block-related-link"><span class="cn-block-related-link__prefix"> You might also like: </span><a href=" https://crypto.news/ordinals-explained-new-era-of-nfts-on-bitcoin-network/" class="cn-block-related-link__link" rel="noopener noreferrer nofollow"> Ordinals explained: New era of NFTs on Bitcoin network </a></div><h2 class="wp-block-heading" id="ordinals-bringing-new-use-cases-to-bitcoin">Ordinals bringing new use cases to bitcoin&nbsp;</h2><p>It’s no news that Satoshi Nakamoto, arguably the father of modern blockchain technology, created the Bitcoin network to power a decentralized financial system immune to hyperinflation and crisis.</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p>MICHAEL SAYLOR‼️ Ordinals are a catalyst for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> adoption. <a href="https://t.co/SgHYH23ZOr" rel="noopener noreferrer nofollow">pic.twitter.com/SgHYH23ZOr</a></p>— Bitcoin Archive (@BTC_Archive) <a href="https://twitter.com/BTC_Archive/status/1656238678442639362?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 10, 2023</a></blockquote></div></figure><p>However, the recent launch of the BRC-20 token standard by Domo, a pseudonymous programmer, is paving the way for more groundbreaking use cases of the Bitcoin network, including NFT minting.</p><figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper"><iframe title="Bitcoin NFTs?! Ordinals &amp; What They Mean for BTC 💥" src="https://www.youtube.com/embed/fWH6YlPCNHg?feature=oembed"></iframe></div></figure><p>Bitcoin-based NFTs, popularly known as <a href="https://crypto.news/ordinals-explained-new-era-of-nfts-on-bitcoin-network/" rel="noopener noreferrer nofollow">Ordinals</a>, have become the hottest properties in digital collectibles, despite the ongoing <a href="https://crypto.news/should-bitcoin-censor-brc-20-and-ordinals-the-raging-debate/" rel="noopener noreferrer nofollow">debate</a> that this new trend may be bad for the network in the long run.</p><p>In the last 24 hours, a total of $3,526,237 worth of ordinals has exchanged hands, representing a 21.43% increase within that timeframe, according to <a href="https://www.cryptoslam.io/blockchains" rel="noopener noreferrer nofollow">CryptoSlam</a>.</p><div class="cn-block-related-link"><span class="cn-block-related-link__prefix"> Read more: </span><a href=" https://crypto.news/over-225000-bitcoin-transactions-are-unconfirmed-as-ordinals-bloat-mempool/" class="cn-block-related-link__link" rel="noopener noreferrer nofollow"> Over 225,000 bitcoin transactions are unconfirmed as Ordinals bloat mempool </a></div>

Bitcoin becomes second-largest NFT chain by volume

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