Our in-cave analysts have been grinding in the basement of the Cave, collecting data on #ordinals market volumes.
How do ordinals compare to other chains?
Has @MEonBTC cemented its lead?
A Rocksolid Ordinals Data thread 👇
After the peak of Ordinals trading in USD terms on the 31st of February, the trading volume has been solid and sustained:
How @MEonBTC took over the Ordinals market 👇
The number of marketplaces adopting Ordinals has increased over time, but the arrival of Magic Eden on the 21st of March blew the competition out of the water, capturing a 50% market share within a couple days!
The majority of ME volume is driven by @BTC_DeGods, with sales averaging 25k in the last few days!
As you probably know @MagicEden is present on 2 other chains (and now the 4th, congrats @MEonEthereum)
This is how @solana and @0xPolygonLabs compare to Bitcoin volumes. Not so insignificant, right?!
Polygon only really surpassed BTC with the launch of @y00tsNFT on Mar 28th.
How long did it take Solana to reach these volumes?
Magic Eden and co. surpassed 300k volume (=the first day of trading on Bitcoin) only on Feb 16th 2022, months into the NFT bull run with Sol at 105 USD!
The #ordinal market has proven to be liquid and significant relative to other ecosystems.
The Bitstones are bullish on ordinals 🦣
If you are as well, join the cave: discord.gg/P8jQbHhCUH
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.