Oxalus Insights 60s Analytics

60s Analytics: Bitcoin Ordinals Growth Rate Is Getting Stronger. Could We See An Airdrop Wave?

60s Analytics Mar 9 2023

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In March, the NFT market saw strong growth in Bitcoin Ordinals, with the participant of Yuga Labs, the creator of the Bored Ape Yacht Club collection. Since mid-February, Bitcoin Ordinals has recorded nearly 12,000 unique users and over $8 million in transaction volume, a level of growth that even OpenSea would envy. While many are still focused on the battle between Blur and OpenSea, the Bitcoin Ordinals projects are also waging their own silent wars.

Looking at the chart, we can see that Ordinal wallet is dominating the number of unique users. In addition, this wallet also recorded an overwhelming number of transactions compared to other projects. This is believed to be because the Ordinal wallet airdropped to users the Pepe NFT Pixels, which are currently worth around $1500. However, in terms of trading volume, Ordinals market is the leader.

Yuga Labs has recently launched a new Ordinals collection, which may lead to a competitive battle between marketplaces, because everyone’s eyes will be on where this collection is most traded. As Ordinals wallet has already been successfully airdropped to users, it will likely be the first strategy used by developers to attract the relatively young user base in this market. Although there are no specific hints yet, if you are a true airdrop hunter, this is an opportunity you should not miss.

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