Bitcoin

<ul><li>DappRadar&#39;s discovery of a massive 97% drop in user engagement with Bitcoin Ordinals NFTs sparks future worries.</li><li>Starting from its peak of $452 million in May, Bitcoin Ordinals crashed to $3 million in August, as transactions plummeted 97%.</li><li>DappRadar&#39;s report flags concern about Bitcoin Ordinals&#39; future, highlighting waning enthusiasm and community disagreements.</li></ul>In a startling turn of events, the vibrant realm of Bitcoin Ordinals non fungible tokens (NFTs) has witnessed a staggering 97% decline in user activity. DappRadar, a DeFi tracker, spotted that the trading volume of Bitcoin Ordinals NFTs, once at an astonishing high, have plummeted, leaving the community grappling with the ramifications.In a recent tweet, DappRader highlighted the latest findings on Bitcoin Ordinals NFTs, shedding light on the declining NFT market:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/a206c6973cca4f97954c2f5063477dba.png" />The recent DappRadar <a href="https://dappradar.com/blog/ordinals-sales-down-97-since-may-are-bitcoin-nfts-over" rel="noopener noreferrer nofollow">report</a> paints a bleak picture of the situation. Bitcoin Ordinals, which had once boasted sales volumes reaching an apex of $452 million in May, has seen a jaw-dropping drop to a mere $3 million by August 14.Simultaneously, the number of recorded transactions has precipitated a drop of around 97%, with a mere 20,571 transactions reported during the same timeframe. According to DappRadar, describing the situation as somber for the Ordinals has cast a shadow of uncertainty over the Ordinals market, prompting questions about its future trajectory.DappRadar&#39;s analysis highlighted a noticeable decrease in the evident excitement and perhaps trust in NFTs based on Bitcoin. While variations in the market could be attributed to its natural ups and downs, the continuous decline in transaction numbers implies more significant underlying issues. This situation raises an urgent question about whether the Ordinals market is gradually losing its hold on traders, leading to contemplations about its resilience and importance in NFTs.Read full article at <a href="https://cryptotale.org/bitcoin-ordinals-nft-activity-drops-97-since-may-sparks-longevity-concerns/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Bitcoin Ordinals NFT Activity Drops 97% Since May, Sparks Longevity Concerns

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