Magic Eden Surpasses Blur, Boosted by Bitcoin Ecosystem Surge
Magic Eden Exceeds Blur's NFT Volume
Magic Eden has emerged as the leading NFT marketplace, outperforming Blur, driven by the Bitcoin ecosystem. The trading volume of Magic Eden surpassed Blur's by $108 million, showcasing the rising prominence of Bitcoin in the NFT sector. This development underscores the marketplace's success and the growing importance of Bitcoin Ordinals collection.
Bitcoin Collections Impact
- Bitcoin Ordinals accounted for 70% of Magic Eden's trading volume, highlighting their growing popularity.
- Runestone collection, leveraging Bitcoin's UTXO model, marked the highest trading volume in April among NFTs.
While Magic Eden has excelled, the broader NFT market experienced a decline in total trading volume despite increased sales. The surge in Bitcoin collections has bolstered the industry, with four of the top eight collections being Bitcoin-based.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.