Bitcoin Ordinals close to overtaking Ethereum

A new showdown in the cryptocurrency world is brewing as Bitcoin non-fungible tokens (NFTs) edge closer to overtaking Ethereum. The rivalry is heating up as Ordinals witnessed a dramatic surge in both sales and active buyers.

Bitcoin NFTs making a stand

As per the latest data from Crypto Slam, Ordinals have observed an extraordinary 129.5% growth in USD sales, along with close to a 10% draw of the total buyer market.

Ethereum maintains its top position in the NFT market with over $24 million in sales. However, the accelerating growth trajectory of Ordinals, enhanced by the recent and highly efficient BRC-69 standard, indicates that Bitcoin could be set to “flip” Ethereum soon.

Ethereum underperforming other chains

The Ethereum NFT ecosystem seems to be underperforming all other blockchains, with the floor price of blue-chip collections like Azuki and Bored Ape Yacht Club (BAYC) plummeting.

Solana, for example, registered impressive numbers earlier in the month, surpassing both Ethereum and Bitcoin. Exhibiting a robust sales growth of 44.6%, with total sales reaching $1.2 million, Solana has successfully attracted an impressive 31.4% of buyers.

Following closely behind in fourth place is Polygon. It has seen a sales increase of 30.8%, which translates to $1.3 million in total sales.

Coming fifth is the BNB Chain, with sales reaching a solid $856,027 and a buyer share of 7.5%. Even though Cardano lags with a smaller total sales figure of $346,115, it has demonstrated a healthy sales growth rate of 36%. In fact, Cardano outperformed most other blockchains during the month of June

As the cryptocurrency landscape continues to evolve and expand, the imminent possibility of Bitcoin’s Ordinals outstripping Ethereum’s NFTs could signify a pivotal moment. This development could shake Ethereum’s dominance in the NFT market to date.