Bitcoin Takes Over the NFT Market with a 76% Increase in Sales in a Day

Liputan6.com, Jakarta – The price of Bitcoin fell to the level of USD 65,000 or around IDR 1 billion (assuming an exchange rate of IDR 15,750 per US dollar) after trading at an all-time high. Even though it was corrected, the Bitcoin network's Non Fungible Token (NFT) sales volume dominated.

Quoted from Yahoo Finance, Thursday (21/3/2024), Bitcoin emerged as the top blockchain for NFTs over the last 24 hours on Saturday, March 16 2024, recording more than USD 22.2 million or the equivalent of IDR 343.7 billion.

This amount increased 76.04% from the previous day's sales of USD 12.6 million or equivalent to IDR 197.1 billion. Coming in behind Bitcoin are Ethereum and Solana, which rank second and third respectively.

Ethereum recorded sales of more than USD 14.8 million or the equivalent of IDR 231.5 billion, down 15.72% from Thursday, while Solana recorded sales of USD 8.7 million or the equivalent of IDR 136.1 billion, down 4.22%.

Polygon, an Ethereum scaler, also made notable progress in the last 24 hours. Even though it was ranked fourth, it recorded a significant increase in sales of 65.32%, from USD 1.17 million or the equivalent of IDR 18.3 billion to USD 1.94 million or the equivalent of IDR 30.3 billion.

However, Polygon experienced a slight decrease in transactions of 2.2%, from a total of 53,247 transactions to 52,076.

Saturday's performance increased Bitcoin's all-time NFT sales volume to USD 2.8 billion or the equivalent of IDR 43.8 trillion, ranking it fourth among all blockchains.

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