Decline of Bitcoin Ordinals NFTs: A Drastic Drop in Trading and Sales

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The popularity of Bitcoin Ordinals non-fungible tokens (NFTs) seems to be fading fast, as evidenced by a staggering 99% crash in trading and sales volume since May, according to a recent report by DappRadar. This significant decline, deemed "alarming" by the crypto tracking platform, shows a plummet from a peak sales volume of $452 million in May to a mere $3 million by August 14. The total number of transactions has also experienced a sharp decline, dropping from 832,648 to 20,571 during the same period. Ordinals, Bitcoin's equivalent of NFTs, which allow users to embed inscriptions on the blockchain, are seemingly losing traction. The report raises questions about the long-term viability of Bitcoin-based NFTs and whether this decline is indicative of a broader trend or a temporary setback. #BitcoinNFTs #CryptoDecline #NFTMarket #BitcoinOrdinals #CryptoTrends



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