By Philip Maina
2 weeks agoTue Dec 19 2023 11:33:11
Checking out Time: 2 minutes
- NFT trading volume on OKX NFT Marketplace has actually exceeded that of leading NFT exchanges
- The 24-hour trading volume stands at $35 million while that of Blur and OpenSea integrated is listed below $20 million
- The rise is credited to the activation of Bitcoin Ordinals trading on the platform
OKX NFT Marketplace has actually beaten leading markets in its 24-hour trading volume. The volume presently stands at $35.59 million versus Blur’s $13.67 million, Magic Eden’s $5.81 Million and OpenSea’s $5.23 million. The rise has actually been credited to the platform making it possible for the trading of Bitcoin Ordinals, which just recently got an increase after popular auction home Sotheby’s auctioned a pixelated avocado Bitcoin NFT for over $100,000.
Leading Despite $14 Million Drop
According to DappRadar, the day-to-day trading volume on OKX NFT Marketplace had actually reached a high of $50 million on December 18 before toppling down to the existing $35.59 million with sales coming by 26.66% in the last 24 hours.
The boost in NFT trading activities appears to have actually occurred throughout a bulk of NFT exchanges. Blur, for instance, tape-recorded a boost of 20.86% in sales while the volume increased by near 5%. OpenSea’s NFT sales and trading volume increased by 5.54% and 59.69% respectively.
Interest on Bitcoin engravings has actually likewise increased compared to Ethereum NFTs with everyday sales on Bitcoin exceeding that of Ethereum by near to $10 million on December 12. This phenomenon was likewise seen 2 weeks earlier when a Bitcoin Ordinals engraving including a honey badger altered hands for $450,000.
Bitcoin ETF Played a Part
According to a current report by JPMorgan, the return experienced in the NFT area can be credited to the enjoyment around a possible listing of a Bitcoin ETF in the United States.
With a crypto exchange-controlled NFT market seldom ruling the NFT trading world, it’s to be seen whether it’ll preserve its brand-new area thinking about that popular markets like Magic Eden likewise provide Bitcoin Ordinals trading.
