Did Bitcoin Ordinals Sales Plummet 61% in January? đ
Bitcoin #Ordinals , a notable NFT collection, saw a substantial 61% decline in sales, totaling $335 million in January, compared to its peak of $868 million in December 2023.
The drop is attributed to #oversaturation in the NFT market, as new projects and artists flood the space, providing buyers with an abundance of options.
Intergovernmental blockchain expert Anndy Lian suggests that the rise of alternative blockchains like Solana may have diverted attention from Bitcoin Ordinals.
Meanwhile, Ethereum NFT sales dipped by 2.2%, contrasting with #Avalanche 's NFT sales surge of 89% in the same period, as reported by CryptoSlam.
