Bitcoin Frogs: the collection of NFT Ordinals exceeds $2 million in volume


The Ordinals continue their ascent – Since the beginning of 2023, the Ordinals took over the network Bitcoin. This protocol has spawned many NFTs and BRC-20 tokens on the Bitcoin blockchain. Now, some Ordinals have become must-have NFTs.

Bitcoin Frogs: NFT Ordinals on the rise

Following the emergence of the protocol Ordinals on Bitcoin, many collections of NFTs have emerged. Among them, the bitcoin frogs burst onto the NFT scene with a bang.

Bitcoin Frogs is a collection of 10,000 NFTs featuring pixel art frogs.

Bitcoin Frog #4895.

Recently, these digital amphibians have overtaken the apes of the Bored Apes as the most traded collection of NFTs in the last 24 hours. This event marks a turning point for the nascent Ordinals market.

In total, nearly 700 different exchanges enabled the volume of Bitcoin Frogs to surpass $2 million.

By comparison, the Bored Ape Yacht Club, the world’s most valuable NFT collection by market share, ranked third over the past day with a volume of around $1.3 million, according to data from CryptoSlam.

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Outstanding Performance

Since the beginning of the month, NFT Bitcoin Frogs have generated a volume of $5.9 million. This is one of the most impressive developments for an NFT collection.

Indeed, the collection had witnessed only one volume of $52,000 during the month of April. So, this one saw its volume multiplied by a factor of 100 within a few weeks.

Quickly, observers began reacting to the news on Twitter. This is particularly the case of LeonidasNFT.

LeonidasNFT praises Bitcoin Frogs for their performance.
LeonidasNFT praises Bitcoin Frogs for their performance.

“A collection of Ordinals just became the highest volume collection of NFTs on any channel for the first time. Don’t sleep on Bitcoin. »

These figures are all the more impressive when you consider that they come from an Ordinals collection, a protocol that inscribes satoshis on the Bitcoin blockchain in order to link content to them. Especially since this protocol is only a few months old.

The Impact of Ordinals on Bitcoin

Unfortunately, the rise of Ordinals is not without consequence. The increase in the number of daily transactions has caused congestion in the Bitcoin network. Therefore, who says congestion, says rising transaction fees.

It remains to be seen how the market will adapt to this new reality. Either way, the meteoric success of Bitcoin Frogs and the general rise of Ordinals show that theNFT ecosystem on Bitcoin is in full swing. And so far, nothing seems to be able to stop these digital frogs.

In parallel, the Bitcoin token market, in the form of BRC-20, also continues to evolve. Thus, the BRC-20 market now has a capitalization of 465 million dollars.

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