Bitcoin NFT CryptoSlam announced on June 4 that total sales of Bitcoin NFTs exceeded $4 billion, a major milestone. This included $3.97 billion in actual sales and $82 million in wash sales. This happened despite the NFT market falling sharply in May.
Bitcoin-based NFTs have shown strong performance over the past 30 days. Their sales were $171 million. This puts Bitcoin at the top of the list of blockchain sales this month. Ethereum followed with sales of $159 million, while Solana recorded $90 million.
Comparison with Ethereum and other blockchains
Despite the recent success of Bitcoin NFTs, their overall sales are still lagging behind. Ronin Blockchain Ranking third with historical sales of $4.2 billion. Solana NFT ranked second with $5.5 billion. Ethereum still maintains its lead with an impressive $43.8 billion in sales.
Top five blockchains by historical sales. Source: CryptoSlam
In May, the broader NFT market faced a downturn. Sales were down 54% compared to April. In April, market sales exceeded $1 billion. Only $624 million was recorded in May. This decline has also affected Bitcoin NFTs. Sales of Bitcoin-based collectibles fell 68% in May.
Bitcoin trading value peaks
Bitcoin’s transaction value hit a new record, while NFT sales were also successful. On May 28, transaction volume involving Bitcoin soared to $25 billion, setting a record last year. Blockchain.com data shows that Bitcoin holders transferred approximately 367,000 BTC that day. It is worth noting that at the time, the price of Bitcoin was hovering around $69,000, with the total value of transactions reaching $25.5 billion.
Despite the market downturn, Bitcoin NFTs have achieved a major milestone. It’s been strong lately, but Ethereum still dominates overall sales. Bitcoin transaction volume also hit a new yearly high, showing the level of activity on the network.
