Bitcoin Frogs NFT collection outpaces BAYC in daily sales

Sales of Bitcoin Frogs — NFT-collection on the Bitcoin network — over the last 24 hours reached $2.24 million across 602 transactions, surpassing the Bored Ape Yacht Club (BAYC). Data from CryptoSlam show this.

BAYC remains the largest collection by total market share, but in the last 24 hours it ranked only fourth in sales — $1.1 million across 11 transactions.

In May, Bitcoin Frogs trading volume totaled $6.65 million. In March and April the figure was only $246,000 and $52,000 respectively.

The total number of holders of the Bitcoin-NFT collection reached 2,785 with an issuance of 10,000 tokens. The average holding time is about 13 days.

In the Bitcoin Frogs Discord channel the initiative is described as a “free project”, aimed at “promoting the adoption of Ordinals”.

Meanwhile, total NFT sales on the Bitcoin network are gaining momentum. Over the past 24 hours the figure rose 57% — to $8.3 million. Ethereum-token dynamics, by contrast, fell 18%.

Back in May, Bitcoin Core developer Luke Dashjr proposed to apply a ‘spam filter’ for tokens of the BRC-20 standard and Ordinals due to their negative impact on the first cryptocurrency’s network. In his words, such an approach would help ‘filter out’ the transactions associated with them, which Dash called ‘junk’.