Pepe-themed Bitcoin Frogs become most traded NFT collection

โ€‹โ€‹Pepe-themed Bitcoin Frogs become most traded NFT collection

18.05.2023 08:54 (Updated 18.05.2023 08:05)
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by Yana Popenkova
2 min read

The Bitcoin Frogs NFT collection, launched at the end of February on the Ordinals protocol, has become the most traded NFT collection, raising more than $2.2 million in the last 24 hours.

Bitcoin Frogs, Pepe the Frog-themed NFTs, have even outpaced such prominent collections as Bored Ape Yacht Club, which raised around $811,000 in the same time, according to CryptoSlam.

Bitcoin Frogs' All-time activity, CryptoSlam
Bitcoin Frogs’ all-time activity, CryptoSlam

Currently, each of 10,000 generative Bitcoin Frogs sells for an average of $3,500, or 0.13 BTC, with trading fees ranging from $50 to $1,200.

Bitcoin Frogs’ trading volume was distributed across 627 individual transactions, according to the data. In contrast, Bored Apes recorded slightly above 11 transactions, but at a significantly higher price of over $83,000 per NFT.

The comparison is made because it’s a win for Bitcoin Ordinals NFTs, as it has trumped an Ethereum-based NFT collection for the first time, which BAYC is a star of, and also the entire NFT market.

On crypto Twitter, one of the influencers, @LeonidasNFT, said that this is a breakthrough for Ordinals and that now isn’t the time to “sleep on Bitcoin”:

Earlier on one of Twitter spaces, the CEO of Binance, Changpeng Zhao, stated:

It’s great to see that NFTs are now part of the Bitcoin blockchain, which is actually the most secure and highest market cap blockchain.

Since the introduction of the Ordinals Protocol earlier this year, NFTs created directly on the Bitcoin blockchain have gained significant recognition. This protocol enables users to embed data into the Bitcoin blockchain by inserting references to digital artwork into small Bitcoin-based transactions. Just recently, the number of Ordinals “inscriptions” passed the 3 million milestone.

Author

  • Previously worked in the arts, now specializes in covering crypto with an emphasis on DeFi, blockchain and mass adoption. Offers simple and clear writing, always looking for new ways to present information. Major in International Relations, minor in English, in a spare time reads postmodern literature, does yoga and watches movies.

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