Bitcoin Frogs Best Selling NFT for 24hr As Pepe Mania Hits BTC
It looks like the Pepe craze has spread to more places.
This week, the ordinals are coming in wet. On Wednesday, Bitcoin Frogs was the best-selling NFT collection for the past 24 hours. Bored Apes Yacht Club, CryptoPunks, and other famous collections didn’t sell as well as Frogs did for the day.
The BRC-20 memecoin project calls itself “10,000 unique frog collectibles minted directly on the Bitcoin Blockchain.” At the time this was written, 3,700 frogs had owners. While that was going on, hundreds were being sold on NFT platforms.
This might be a scary time for that lizard who sells insurance because Pepe the Frog could take his job. This year, cryptocurrency NFTs that are based on PEPE Coin on Ethereum are all the rage.
NFT Trading Volume Leader Bitcoin Frogs
CryptoSlam, a major aggregator of on-chain NFT analytics, says that Bitcoin Frogs sales for the day were worth more than $2.2 million. For Wednesday, May 17th, Frogs NFTs sold more than Bored Apes NFTs.
Some of the people selling BAYC might have even used the money they got to buy PEPE Coin in the meantime. During this Pepe fever season, there has been a lot of that.
On Wednesday, Bitcoin Frogs were selling for an average of 0.12 BTC, which is about $3,200 USD. Even though the blue-chip NFT sold for an average of $83,000 more than Bored Apes Yacht Club, sales went up because of PEPE.
Bitcoin’s PEPE Mania is BRC-20
The total number of trades for BAYC NFT for the day was 11. On Wednesday, the number of Bitcoin Frogs deals went up to 627 due to the high demand for frog meme crypto and Bitcoin ordinal NFTs. The cute frog joke ordinals are being bought on NFT markets like Magic Eden and Ordinals Wallet.
The art of smart contract minting is brought to the Bitcoin blockchain by adding cool NFT features like AI that generates unique qualities for each mint. But the mint was set up so that the frogs could still use the coins.
The project notes: “Rarities of all traits within each layer are equal, allowing subjective appreciation of aesthetics and satoshi-based rarities to emerge.”
Two different joke coin crazes have come together to make Bitcoin Frogs very popular. The rapid rise of PEPE coin at the beginning of the month started a frog craze.
The other is the trend that began in January and is called “Bitcoin ordinals.” This month, the number of Bitcoin ordinals that have been written hit 5 million. In a week, the number of BRC-20 tokens released doubled, setting a new record.
