Bitcoin Frogs: Making Waves in the NFT Market with $2.2M in 24-Hour Trading Volume | NFT CULTURE | NFT News | Web3 culture
Bitcoin Frogs Strikes NFT Market Surpassing $2.2 Million in 24-Hour Trading Volume
In the ever-evolving world of non-fungible tokens (NFTs), a newcomer has quickly emerged and captured the attention of seasoned collectors and novices alike. Bitcoin Frogs, a newly launched collection of 10,000 unique frog-themed NFTs, debuted on the Bitcoin Ordinals platform in late February. Since then, it has generated a remarkable trading volume of over $2.2 million in just 24 hours, signaling its rapid progress in the NFT market.
“One fine day I woke up wanting to put 10,000 frogs on the Bitcoin blockchain at any cost.” — Frogtoshi Nakamoto
The growing trend
Bitcoin Frogs’ meteoric rise highlights the growing demand for NFTs minted on the Bitcoin blockchain. Although Ethereum still dominates the NFT landscape, Bitcoin’s influence is on the rise. In the past seven days alone, Bitcoin Frogs has surpassed Solana by over $30 million in trading volume, demonstrating its potential to disrupt the status quo.
Impressive statistics
The numbers behind Bitcoin Frogs are truly staggering. Over the past week, the collection has achieved a trading volume of 139 BTC ($3,782,300), with each NFT having a current floor price of 0.115 BTC ($3,129). These numbers underline the enormous value attached to these “cryptographic amphibians” and their growing popularity in the digital art market.
Surpasses established NFTs
Bitcoin Frogs has quickly gained attention by outperforming established NFT collections, including the renowned Bored Apes. While they currently occupy second place, having been overtaken by Space Pepes, Bitcoin Frogs’ potential for continued success is undeniable. The collection’s 10,000 frog-inspired digital collectibles have already amassed a total sales volume of $7,530,033.19 (278,2482 BTC) in May alone.
The market dynamics
Although the average selling price of a Bitcoin Frogs NFT hovers around $3,000 (0.12 BTC), recent transactions reveal significant market potential. In the last 24 hours alone, the highest sale reached an astounding $38,500. Despite these seemingly high prices, the ongoing trading volume suggests that Bitcoin Frogs retain their allure. With 2,815 individual owners since its debut, market participants ranging from newcomers to seasoned traders are willing to pay transaction fees ranging from $50 to a staggering $1,200 to be a part of this exciting trend.
Powered by deezy.io: Bitcoin Frogs owes its success to the powerful infrastructure provided by deezy.io. As advocates for the potential of Bitcoin, the platform serves businesses, node runners, creators and collectors alike. With lightning-powered apps and products, deezy.io facilitates seamless integration between chain and lightning networks, offering increased payment reliability through their well-connected nodes.
Bitcoin Frog #6821 sold for 0.1 BTC ($2686.32) on Magic Eden pic.twitter.com/jgzIfkEVBP
— Bitcoin Frogs Sales Bot (@BTCFrogsBot) 22 May 2023
In addition to the Bitcoin Frogs collection, Software for the Bitcoin Future supports artists in launching their own NFTs on the Bitcoin network. Through inscription services, creators can design, inscribe, launch and sell their own unique collections. The platform’s dedication to empowering artists and collectors contributes to the vibrant ecosystem around Bitcoin NFTs.
Bitcoin Frog’s rapid ascent in the NFT market highlights the growing influence of Bitcoin-based NFTs. With its impressive trading volume, which exceeded $2.2 million in just 24 hours, this collection has proven its ability to captivate the market. As the NFT landscape continues to evolve, Bitcoin Frogs and other innovative projects demonstrate the expanded possibilities for artists, collectors and enthusiasts in the world of blockchain-based art.
