Bitcoin Leads the NFT Market with Increase in BRC-20 Token Sales.

In the latest developments in the cryptocurrency industry, Bitcoin has gained a significant lead over Ethereum in the non-fungible token (NFT) market. Data from CryptoSlam shows that Bitcoin's NFT sales volume reached $16.94 million in just one day, bringing the weekly total to $177 million, marking an increase of 88%. This increase is attributed to the growing popularity of SATS #BRC-20 NFTs, which are currently the most sought-after collectibles on the Bitcoin network.

As reported by Dune analytics, the revival in Bitcoin's #NFT market is largely due to the success of the Ordinals protocol. The protocol saw more than 5.6 million entries this November alone, indicating a solid revival from what was previously referred to as the NFT winter. This increase in activity is also reflected in transaction fees, where Bitcoin has surpassed Ethereum. According to Glassnode statistics on Monday, Bitcoin's average transaction fee stood at $10.35, outpacing Ethereum's $8.43. This indicates a significant increase in network activity and interest in Bitcoin-based NFTs and smart contract functions.

Additionally, Bitcoin's dominance in the #NFT market is evident from its monthly sales figures, which stood at $312 million compared to Ethereum's $304 million. Notably, BRC-20 NFTs topped the sales volume rankings with $83 million in transactions on Tuesday, eclipsing other notable collectibles like Bored Ape Yacht Club, which reported $42 million in sales. The buyer base for BRC-20 NFTs expanded by 398%, demonstrating rapidly growing interest among collectors and investors.

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