- Ethereum loses more ground on Bitcoin in NFT volume.
- Apecoin continues to decline.
Ethereum [ETH] remains prominent in the NFT conversation; however, recent data indicates a reduction in its dominance.
ApeCoin [APE], the ecosystem token associated with Bored Ape Yacht Club (BAYC) – an Ethereum-based NFT collection – has experienced a decline in relevance, mirroring the recent downturn in BAYC’s floor price.
Ethereum NFT volume continues to slide down
NFTs were primarily associated with Ethereum in the past, given the multitude of projects hosted on the platform. However, the emergence of alternative platforms has disrupted this monopoly.
In recent months, Bitcoin has emerged as an unexpected competitor in the NFT space despite operating differently.
Analysis of NFT volume on Crypto Slam revealed that Bitcoin has surpassed Ethereum in volume over the last 30 days.
Specifically, the NFT volume on the Bitcoin network was…
