BRC-20 Tokens Make Up 45% Of Ordinal Trading Volume: Analyst

In a recent tweet, a research analyst by the name of Tom Wan shared some insights relating to BRC-20 tokens and $BTC Ordinals. According to the post, 45% of the ordinal trading volume is attributed to BRC-20 tokens, while Ordinals (ORDI) account for 22.1%.

As a result, the analyst raised a thought-provoking question about whether all Ordinals should be considered as $NFT volume or if it should be limited to the Image Inscribed Ordinals. This follows the news of the trading volume for Bitcoin ($BTC) Ordinals surpassing that of Solana-based NFTS — ranking their trading volume second under Ethereum-hosted NFTs.

Over the past 30 days, the total trading volume for $BTC Ordinals reached $172,082,539, which is a 406.01% increase. During this time, the trading volume for $ETH NFTs dropped by 26.46% to $395,037,686.

At press time, CoinMarketCap indicated that both $BTC and Ethereum ($ETH) experienced price increases over the past 24 hours. $BTC was changing hands at $26,418.97 after it printed a 24-hour gain of 0.52%. Meanwhile, $ETH’s price stood at $1,809.58 after it climbed 1.39% in the last day.

The market leader was able to reach a daily high of $26,591.52, but has since retraced. Its 24-hour low stood at $26,121.83. Similar to $BTC, $ETH has also dropped from its daily high at $1,815.99, with its 24-hour low sitting at $1,777.93.

Both of the cryptos experienced drops in their daily trading volume. At press time, $ETH’s trading volume stood at $5,414,599,653, a 22.47% decrease. $BTC’s trading volume had dropped 20.71% and stood at $12,676,643,115.

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