Cryptocurrency NewsBitcoin to challenge Ethereum’s NFT supremacy?

Bitcoin to challenge Ethereum’s NFT supremacy?

The indexes are proxy measures of the performance of the global NFT market.They are run by CryptoSlam, a subsidiary of Forkast.News that falls under the Forkast.Labs brand.

The Forkast 500 NFT index fell 0.13% to 3,378.53 points in the non-fungible token (NFT) market in the 24 hours leading up to 7:30 a.m. in Hong Kong, down 2.32% for the entire week.

Related: Discover how to create NFT in just 6 easiest steps!

This, said CryptoSlam NFT analyst Yehudah Petscher, can again be attributed to “low volume and high transacting fees from crypto trading.” On Ethereum, the most popular blockchain for NFTs, 24-hour NFT sales increased 2.16% to US$18.6 million.  Sales on the Bitcoin blockchain took second place on Cryptoslam’s blockchain ranking by gaining 32.11% to US$4.6 million.

Yehudah said:

“Bitcoin NFTs are just getting started and in the long run, I expect Bitcoin to compete head-to-head with Ethereum’s all-time sales. It may actually exceed them too,”

The Bored Ape Yacht Club NFT collection saw the most sales during the past 24 hours. To $2.48 million USD, it increased 8%. According to Cryptoslam, the 24 highest individual NFT sales in the previous day were all Bored Ape Yacht Club NFTs.


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