Pepe-Themed ‘Bitcoin Frogs’ Top Traded NFT Amid Bitcoin Frenzy

Over the last 24 hours, NFT transactions amounted to approximately $2 million in value.

Buys and sells of Bitcoin Frogs-source: (CryptoSlam)

Bitcoin Frogs, a recently introduced collection of non-fungible tokens (NFTs) featuring frog designs, has emerged as the  most-traded collection in the last 24 hours. It has surpassed popular collections like Bored Apes in terms of trading volume and activity.

According to data from CryptoSlam, the Bitcoin Frogs collection, which was launched on the Bitcoin Ordinals platform in late February, has achieved a trading volume exceeding $2.2 million. The collection consists of 10,000 distinct frog collectibles that have been directly minted on the Bitcoin Blockchain.

Currently, each NFT from the collection is being sold for 0.12 bitcoin (BTC), equivalent to over $3,200. Buyers and sellers are incurring trading fees that range from $50 to over $1,200 as of Thursday.

According to the data, the trading volumes of Bitcoin Frogs were distributed among 627 individual transactions. In contrast, Bored Apes recorded slightly over 11 transactions, but at a considerably higher price of over $83,000 per NFT.

NFTs created directly on the Bitcoin blockchain have gained popularity since the introduction of the Ordinals Protocol earlier this year. This protocol enables users to include references to digital art within small bitcoin-based transactions, effectively embedding the data onto the Bitcoin blockchain. The number of these “inscriptions,” known as Ordinals, exceeded 3 million earlier this month.

This information is for general knowledge only and should not be considered as advice for investing or making financial decisions.