Connect with us

NFTs

CryptoPunks Dominate NFT Sales While Bitcoin Runes Slow

TokenTalk Staff

Published

on

CryptoPunks Lead NFT Sales Amid Bitcoin Runes Downturn

In the non-fungible tokens (NFTs) market, Ethereum (ETH)-based NFT collectibles CryptoPunks and Pudgy Penguins have emerged as sales leaders over the past 24 hours.

The recent performance of CryptoPunks and Pudgy Penguins significantly outperforms Bitcoin Ordinals. These NFTs on the Bitcoin blockchain appear to be losing steam.

Ethereum’s advantage over Bitcoin in the NFT market

CryptoSlam Data highlights CryptoPunks sales at $1.25 million. This number represents a notable increase of 811.95% in the last 24 hours.

O sale of CryptoPunks #741 largely drove this increase. The latest data shows that CryptoPunks #741 is valued at $792,046.

The Pudgy Penguins also saw a substantial increase. Its sales reached US$476,857, marking a gain of 356.46% over the same period. Interestingly, the Pudgy Penguins’ achievements extend beyond the digital space.

See more information: What are CryptoPunks? The complete guide

NFT collection rankings by sales volume. Source: CryptoSlam

Recently, Luca Netz, CEO of Pudgy Penguins, announced that more than 1 million Pudgy Toys, the plush version of Pudgy Penguins, have been sold in the last 12 months. This milestone comes as the NFT project continues to expand across the world.

“Who would have thought that the consumer crypto revolution would be led by fat, flightless birds,” Luca Netz he wrote on your X (Twitter).

Pudgy Penguins’ retail strategy shows a successful crossover from the digital to the physical market. From them to throw in US stores like Target is part of this strategy. It also intends to substantially increase its consumer base.

Target’s toys come from the Penguins Community Collection. Licensing these toys leverages its NFT platform, OverpassIP.

Each toy includes “a birth certificate” with a QR code. This code connects to Pudgy World, thus improving buyer interaction.

On the other hand, Bitcoin Ordinals are seeing a decline in interest. While the Ethereum blockchain saw a 46.71% increase in NFT sales, reaching $5.95 million, Bitcoin Ordinals saw sales drop 20% to $5.07 million.

This evolution is particularly noteworthy considering that in the previous month, Bitcoin NFTs outperformed EthereumNFTs. A report from DappRadar shows that Runestone, one of the largest Bitcoin Ordinals entries, gained significant popularity during the month.

Runestone became the NFT collection with the highest trading volume in April. This also surpassed Bored Ape Yacht Club (BAYC)a popular Ethereum-based NFT collectible for the first time.

Behind the success are Rune Engines Leveraging Bitcoin’s Existing UTXO model to minimize data added to the blockchain. Such a mechanism allows Runes to potentially reduce transaction fees compared to Ordinals.

See more information: Top 5 BRC-20 Platforms for Trading Ordinals in 2024

Numbers of transactions on the Bitcoin blockchain by type.Numbers of transactions on the Bitcoin blockchain by type. Source: Dune Analysis

However, the The rune hype has cooled down right after the Bitcoin halved occurred. Dune Analytics data shows a significant drop in Runes transactions. They fell nearly 4,590%, from 753,814 on April 24th to 16,066 on May 13th.

Disclaimer

In adherence to the Confidence Project guidelines, BeInCrypto is committed to impartial and transparent reporting. This news story aims to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on this content. Please note that our Terms and conditions, Privacy PolicyIt is Disclaimers have been updated.



Fuente

We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Miguel Mamador.
  • Finalidad:  Moderar los comentarios.
  • Legitimación:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actúa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • Información Adicional: Puede consultar la información detallada en la Política de Privacidad.

NFTs

Bitcoin Leads NFT Sales in 30 Days, Outperforming 24 Blockchain Competitors – Market Updates Bitcoin News

TokenTalk Staff

Published

on

Bitcoin Leads NFT Sales in 30 Days, Surpassing 24 Blockchain Competitors – Market Updates Bitcoin News

https://news.google.com/./articles/CBMiXGh0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9iaXRjb2luLWxlYWRzLTMwLWRheS1uZnQtc2FsZXMtb3V0cGFjaW5nLTI0LWJsb2NrY2hhaW4tY29tcGV0aXRvc nMv 0gEA?hl=en-US&gl=US&ceid=US%3Aen

Fuente

Continue Reading

NFTs

Bored Ape Yacht Club NFTs: Where Are They Now?

TokenTalk Staff

Published

on

Bored Ape Yacht Club NFTs: Where Are They Now?

https://news.google.com/./articles/CBMiamh0dHBzOi8vd3d3LmJsb29tYmVyZy5jb20vbmV3cy9uZXdzbGV0dGVycy8yMDI0LTAyLTI5L3doYXQtaGFwcGVuZWQtdG8teXVnYS1sYWJzLWJvcmVkLWF w ZS15YWNodC1jbHViLW5mdHPSAQA?hl=en-US&gl=US&ceid=US%3Aen

Fuente

Continue Reading

NFTs

GoMining Unwrapped: How BTC Mining with NFTs Works – Branded Spotlight Bitcoin News

TokenTalk Staff

Published

on

GoMining Unwrapped: How BTC Mining with NFTs Works – Branded Spotlight Bitcoin News

https://news.google.com/./articles/CBMiS2h0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9nb21pbmluZy11bndyYXBwZWQtaG93LW1pbmluZy1idGMtd2l0aC1uZnRzLXdvcmtzL9IBAA?hl=en-US&gl=US&ceid= US%3Aen

Fuente

Continue Reading

NFTs

Trump Reaffirms Support for Cryptocurrency, Plans to Launch 4th NFT Collection – Featured Bitcoin News

TokenTalk Staff

Published

on

Trump Reaffirms Support for Cryptocurrency, Plans to Launch 4th NFT Collection – Featured Bitcoin News

https://news.google.com/./articles/CBMiX2h0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS90cnVtcC1yZWFmZmlybXMtc3VwcG9ydC1mb3ItY3J5cHRvLXBsYW5zLXRvLWxhdW5jaC00dGgtbmZ0LWNvbG x lY3Rpb24v0gEA?hl=en-US&gl=US&ceid=US%3Aen

Fuente

Continue Reading

Trending

Copyright © 2024 TOKENTALK.TOP. All rights reserved. This website provides educational content and highlights that investing involves risks. It is essential to conduct thorough research before investing and to be prepared to assume potential losses. Be sure to fully understand the risks involved before making investment decisions. Important: We do not provide financial or investment advice. All content is presented for educational purposes only.