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Bitcoin NFTs Reach $4 Billion in Total Sales Volume

While the overall nonfungible token (NFT) market experienced a 54% decline in sales in May, digital collectibles on the Bitcoin blockchain achieved a significant milestone.

On June 4, NFT data tracker CryptoSlam reported that NFTs on Bitcoin surpassed $4 billion in total all-time sales volume. This figure includes $3.97 billion in NFT sales and $82 million in wash sales.

Over the past 30 days, Bitcoin-based NFTs recorded $171 million in sales, making it the leading blockchain by sales volume during this period. Ethereum followed with $159 million, and Solana came in third with $90 million in sales.

Despite this recent surge, Bitcoin NFTs still lag behind Ethereum overall. Bitcoin is currently the fourth-largest blockchain in terms of total sales, trailing behind Ronin, which holds the third spot with $4.2 billion in all-time sales.

Solana ranks second with $5.5 billion in all-time sales, while Ethereum maintains a commanding lead with $43.8 billion in total NFT sales.

The broader NFT market also saw a downturn in May. According to CryptoSlam, monthly NFT sales volume decreased by 54% from April to May, with sales dropping from over $1 billion in April to $624 million in May.

In addition to the NFT sales milestone, Bitcoin also set a new record for transaction value. On May 28, the Bitcoin network saw transactions valued at over $25 billion, the highest in the past year. Blockchain. com data revealed that approximately 367,000 BTC were moved on that day, with Bitcoin's price around $69,000, making the transactions worth $25.5 billion.


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