The Bitcoin Ordinal Trend Is Slowly Dying

Bitcoin ordinal, NFTs on bitcoin that was the NFT trend beginning of this year has lost its trend, because in this crypto world, trends do come and go, some people capitalise on the trend, some people can’t keep up so they do the best they can do. When Bitcoin NFTs started trending, we all wanted to go with the trend because it seemed like where the money was at that time, I can remember beating myself up because I didn’t get the ordinal wallet airdrop. All I needed to do was make a transaction on my bitcoin ordinal wallet and I would have gotten the airdrop. The airdrop was worth $2k at that time. I tried getting whitelisted for some ordinal wallets but it didn’t work as most of us got disappointed, so I gave up on bitcoin ordinals.

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In February when the bitcoin ordinal market was still new, the sales were low and the trading volume was still low, trading volume was still at $1 Million, with less than 2,000 sales count. The ordinal NFT started trending gradually into march, lots of people started knowing the Bitcoin Ordinal NFTs, then we saw the sales increase, the sale count increased and went from being under 2,000 to being 46,871. Just as the sale count increase, the trading volume increased as well $13 Million. More people now know the bitcoin ordinal, more people are interested, but the month of April didn’t see much increase just an increase in sales count from 46,871 to 48,621. The trading volume increased from $13 Million to $14 Million.

May got the biggest and highest trading volume and sales count, the trading volume increased from $14 Million to $452 Million, that is a huge increase, so did the sales count which increased 832,648. A lot more people got interested in bitcoin NFT ordinals, but that was the peak. The next month which was the month of June, the trading volume and sales count reduced. Went from $452 Million to $106 Million, sales count went from 832,648 to 330,121 and that was how it started declining. July saw another decrease, trading volume became $35 Million and sales count reduced to 172,956.

This month of august saw a huge decline, trading volume tanked to $3 Million and sales count tanked ti 20,571, which is quite low compared to the month may. What is going to be the faith of ordinal NFT in the month of September?

Posted Using LeoFinance Alpha