Cointime

Cointime

Download App
iOS & Android
Home / Data

Bitcoin Becomes Second-Largest Chain by NFT Volume, Closing May at $31 Million

Bitcoin has become the second-largest chain by NFT volume, with a total of $14 million in the first week of May. However, the NFT volume fell to $31 million in the following week after reaching $51 million on May 8. Despite this, Ethereum still dominates the NFT volume, consistently achieving over $60 million on a week-over-week basis. James Van Straten, a research analyst at CryptoSlate, is passionate about data, technology, and identifying trends, and sees Bitcoin as the greatest invention of the 21st century. CryptoSlate's latest market report analyzes the impact of Tether's plan to buy Bitcoin every month and its potential to cause market volatility, putting it in competition with MicroStrategy.

Bitcoin NFT
Comments

All Comments

Recommended for you

  • Uniswap’s market share in DEX has dropped to 36%

    The DEX landscape is undergoing changes, with the market share of the veteran decentralized exchange Uniswap dropping from over 50% in October 2023 to the current 36%.

  • An ETH whale repurchased 5,153 ETH with 12.23 million USDT 20 minutes ago

    A certain high-frequency trading ETH whale monitored by on-chain analyst Yu Jin bought 5,153 ETH with 12.23 million USDT 20 minutes ago.

  • Affected by Ethervista and others, Ethereum Gas temporarily rose to 33gwei

    According to Etherscan, due to the influence of contracts such as Ethervista, Ethereum Gas has temporarily risen to 33gwei, with the top three being EthervistaRouter, UniswapRouter, and BananaGun.

  • BTC falls below $60,500

    The market shows BTC has fallen below $60,500, currently trading at $60,499.2, with a 24-hour growth rate narrowing to 3.66%. The market is volatile, please be prepared for risk control.

  • $26 billion in BTC and ETH outflows on CEXs so far this year

     CryptoQuant data shows that CEX has experienced a large outflow of Bitcoin this year. From January 1 to August 24, 330,560 BTC (worth $20.8 billion) were withdrawn from these trading platforms. Seven months ago, CEX held a total of 3,009,239 BTC, but it has now dropped to 2,678,679 BTC. If this trend continues, the increasing scarcity of BTC could affect future market stability.

  • PayPal’s stablecoin PYUSD market cap exceeds $1 billion

    DeFillama data shows that the market value of PayPal's stablecoin PYUSD has exceeded 1 billion US dollars, currently about 1.013 billion US dollars. Among them, the proportion of PYUSD on Solana is 63.96%, and the proportion of PYUSD on Ethereum is 36.04%.

  • Stablecoin market value has grown for 11 consecutive months, breaking through $168 billion to hit a record high

    According to Cointelegraph, DefiLlama data shows that the market value of stablecoins has grown for 11 consecutive months, reaching a historical high of $168 billion (currently about $168.1 billion), surpassing the previous peak in March 2022 ($167 billion). This data does not include algorithmic stablecoins, whose value is maintained through algorithmic mechanisms rather than being linked to external assets such as fiat currency or gold.Crypto analyst Patrick Scott believes this is a sign of "new money flowing into the cryptocurrency space." In his X post on August 26th, he wrote, "Stablecoins have reached a new all-time high. The total market value of stablecoins, excluding algorithmic stablecoins, has now reached a historical high, surpassing the previous high in early 2022." When asked by another user if institutional investment was driving this increase, although he did not speculate on the reason for the increase, he did point out that "retail trading has been ongoing for at least eight months."According to CCData's report in July, stablecoin trading volume decreased by 8.35% last month due to reduced trading activity on centralized exchanges. The report noted that concerns about the future of USDT in Europe due to MiCA regulations were one of the reasons for the decrease in stablecoin trading activity on centralized exchanges in July. According to CoinMarketCap's data, this trend has continued into August, with current market trading volume slightly above $46 billion.

  • Cointime August 17th News Express

    1.VanEck and 21Shares Solana ETF Form 19b-4 Suspected to be Removed from CBOE Website
  • Coindesk ·

    Careers in Crypto: 5 Insights for 2024

    In an overwhelming job market, leaning into personal networks and connections are more important than ever. Emily Landon, CEO of The Crypto Recruiters, outlines what is happening in the crypto job market and how you can position yourself or your company in 2024.
    Careers in Crypto: 5 Insights for 2024

  • Cointime August 10th News Express

    1. The U.S. Internal Revenue Service has released a new draft of the crypto tax form, which no longer requires filling in wallet addresses and transaction IDs

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company