A new Bitcoin-based NFT has captured the attention of the crypto world by topping the trading volume charts. Surpassing renowned Ethereum NFTs like HV-MTL and BAYC, Bitcoin Frogs NFT has emerged as the new frontrunner in the market.
According to CryptoSlam, the trading volume of the said NFT reached $2.20 million in the past 24 hours and a floor price reaching 0.22 BTC. This amphibious-themed NFT collection is making waves and challenging the dominance of Ethereum-based counterparts.
As of writing, Bitcoin Frogs topped the list with a 143% increase in volume within the day. Its competition, HV-MTL, and BAYC have total sales of $1.08 million and $1.07 million respectively. The total of the two Ethereum-based NFTs is $2.15 million which is $50k short from the Bitcoin Frog.
Read More: Race to the Digital Finish Line; Mattel Launches Fast & Furious NFT Garage
Why the NFT Hype?
With the popularity of Ordinals, a Bitcoin NFT, Bitcoin Frogs became the new target of NFT traders. The hype and success from the Ordinals NFT are now passed down to Bitcoin Frog NFT. Another factor for the traction is the appearance of the said NFT, which is a frog that resembles the face of $PEPE.
Generally, Ethereum still holds the position of most traded NFT with a total volume of $15.26 million. Bitcoin, on the other hand, ranked second with a total volume of $7.93 million. Ethereum trading volume is down by almost 24% while Bitcoin is up 51%.