In the last 24 hours, Bitcoin Frogs has surpassed Bored Apes as the most exchanged collection of non-fungible tokens (NFTs).
This achievement represents a significant step forwards for the developing Ordinals market. The collection has produced $2m worth of trading activity thanks to its roughly 700 individual transactions.
According to the statistics provided by CryptoSlam, the well-known Bored Ape Yacht Club, which now holds the distinction of having the world’s most valuable NFT collection based on market share, found itself in fifth position over the same time with around 859,700 ETH in trade volume.
The trading volume for Bitcoin Frogs as a collection of NFTs has already reached $5.9 million in only this month. This indicates that the popularity of Bitcoin Frogs has been steadily increasing. The collection’s trading volume of around $52,000 in April showed a significant increase in both interest and demand.
This remarkable accomplishment swiftly spread over Twitter, where users immediately began speculating about the platform’s viability in the long run.
On its Twitter account, Bitcoin Frogs is described as “10,000 unique frog collectibles minted directly on the Bitcoin blockchain.” The project presents itself on Discord as a “free-to-mint” effort to foster the adoption of Ordinals throughout the blockchain developers and users community.
The meteoric rise of Bitcoin Frogs is highlighted by the quickly changing nature of the NFT ecosystem, which exemplifies the fluidity and unpredictability of the market. Industry participants are looking to future advancements with bated breath as competition for the most popular NFT collection rises.
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