Is the Bitcoin NFT Hype Over?

postedΒ  20 Aug 2023
Photo - Is the Bitcoin NFT Hype Over?
DappRadar's recent report reveals a staggering 98% drop in Bitcoin Ordinals NFT trading volume since May, plummeting from $452 million to just $3 million.

Transaction numbers also fell by approximately 97% to 20,571 during this period.

While DappRadar acknowledges the decline, they emphasize the need for more time to discern if this is a short-term hiccup or a deeper issue with Bitcoin-based NFTs.