“Bitcoin Frogs” Becomes Most Traded NFT
Launched after the frogs popular with the Pepe trend, Bitcoin Frogs NFTs have become the most traded collectibles in the last 24 hours, surpassing even prominent collectibles like Bored Apes. Launched on Bitcoin Ordinals in late February, the collection has reached a transaction volume of over $2.2 million, according to data from CryptoSlam. The collection is described as “10,000 unique frogs developed directly on the bitcoin blockchain.”
The data shows that Bitcoin Frog has seen 627 individual transactions. In contrast, only 11 transactions take place in the Bored Apes collection at $83k each. Published directly on the bitcoin blockchain, these NFTs continue to gain importance since the launch of the Ordinals protocol. Ordinals Protocol allows users to embed their references to digital art as data on the blockchain.
The demand for the Ordinals protocol, which reached 3 million inscriptions earlier this month, caused transaction fees on Bitcoin to hit a two-year high. This caused controversy in the Bitcoin community.
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