Bitcoin NFTs Hit $4 bn In All-Time Sales Volume

Bitcoin-based nonfungible token (NFT) sales reached a new record in May, with a total all-time sales volume of over $4 billion.

The data combined with wash sales showed that NFT sales were $3.97 billion and wash sales were $82 million.

Bitcoin-based NFTs recorded a sales volume of $171 million in the last 30 days, taking the top spot in terms of sales volume by blockchain.

Ethereum had $159 million and Solana had $90 million in the past month. However, Bitcoin-based NFTs are still far from Ethereum, as the network is only the fourth-largest in sales.

The broader NFT market also saw lower sales volumes in May, with a 54% decline in monthly NFT sales volume compared to April.

Bitcoin transaction value also reached a new record, with Bitcoin NFTs recording a new all-time milestone for sales and the network reaching an estimated value of over $25 billion, its highest in the last year.

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