Ethereum Reclaims NFT Market Crown – Could It Be The NFT Bull Run Loading?
Ethereum, the blockchain network renowned for hosting the majority of blue-chip non-fungible token collections, has regained its initial dominance in the non-fungible token market. Ethereum lost market dominance earlier this month following the resurgence of Bitcoin NFT collections. Ethereum Reclaims NFT Market Dominance Earlier this month, Bitcoin dethroned Ethereum in the NFT market after Bitcoin Ordinals led by Runestones and some BRC-20 NFT collections exploded in trading sales volume. The Bitcoin NFT market hype was fueled by the Bitcoin halving event that took effect last week. Bitcoin miners now receive 3.125 BTC per mined block, down from the previous 6.25 BTC. Data compiled by CryptoSlam.io, an on-chain crypto market aggregator, shows that Ethereum has regained some strength this week after several weeks of downturn. In the past 24 hours, the Ethereum-based NFT collections have amassed a trading sales volume of $7.6 million, taking the top spot in the NFT market. Bitcoin an...