Bitcoin Frogs, a recently minted non-fungible token (NFT) modeled like frogs, has become the most-traded collection in the last 24 hours, beating even well-known collections like Bored Apes.
According to CryptoSlam data, Bitcoin Frogs, which debuted on Bitcoin Ordinals in late February, have a trading volume of more than $2.2 million. The collection claims to be “10,000 unique frog collectibles minted directly on the Bitcoin Blockchain.”
Each NFT was selling for 0.12 bitcoin (BTC), or more than $3,200, around May 18. As of Thursday, buyers and sellers were paying trade fees ranging from $50 to over $1,200.
After the debut of the Ordinals Protocol earlier this year, NFTs issued directly on Bitcoin gained popularity. The Ordinals Protocol allows users to embed data onto the Bitcoin blockchain by inscribing references to digital art into small bitcoin-based transactions; earlier this month, the number of Ordinals “inscriptions” surpassed 3 million.
Related: Bitcoin Ordinals To Launch On Binance NFT Marketplace
As a result, the CoinMarketCap records suggest that Bitcoin Frog’s trading volumes were split across 627 distinct transactions. Bored Apes, on the other hand, registered just over 11 transactions at a substantially higher price of over $83,000 per NFT.
Bitcoin Frogs NFT Collection:
Bitcoin Frogs are 10,000 pure digital items that will be available on Bitcoin in perpetuity. There will never be any more. The rarities of all traits within each layer are identical in this collection, allowing subjective aesthetic assessment and Satoshi-based rarities to emerge.
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