Enchanted Eden Dominates NFT Bitcoin Ordinal Market

In the ever-changing NFT world, a new player has emerged as the main force in the market. The Magic Eden cross-chain NFT electronic marketplace recently opened the market for the Bitcoin version of the popular NFT series “Ordinals.” Since then, Magic Eden’s share in the Ordinals market has risen sharply, occupying more than 50% of the market share.

According to the DUNE data index, the total trading volume of all Ordinals markets on March 30 was $350,000, of which Magic Eden contributed $250,000. The increase in trading volume was primarily due to the launch of the “BTC DeGods” series, a serialized version of the popular NFT PFP series “DeGods” in Solana (SOL).

non-homogeneous token

source: bit god

Magic Eden has become a major player in the NFT market, especially within the Solana ecosystem. The platform’s user experience (UX) is known for its excellent searchability, and the popularity of the NFT collectible publishing platform “NFT Launchpad” makes it particularly friendly to those who are not developers. With Solana and Ethereum-backed Magic Eden, the platform is open to Ordinals, making it easier for more creators to enter the market.

At present, BTC DeGods ranks first in the collection of Magic Eden NFT, with a trading volume of 5.3 BTC in the last 24 hours. The minimum purchase price or reserve price for these NFTs is 0.95 BTC. To ensure seamless transactions, the BTC version of Magic Eden supports three types of Bitcoin wallets: Xverse, Unisat, and Hiro. This allows users to easily complete transactions while keeping their BTC and Ordinals in the wallet they use.

non-homogeneous token

source: SheetFu – FullOfSheet | ฿฿

As the NFT market continues to grow, platforms like Magic Eden are likely to play an increasingly important role in the ecosystem. With its user-friendly interface, multi-blockchain support and growing user base, Magic Eden is poised to become a major player in the NFT market in the coming years.

Ming Ying

according to Kyptos

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