Bitcoin $83,315.11 Ordinals There was a great mobility in the ecosystem. The Ordinals trading volume in Magicen increased in the last days of February and increased by 200 percent. The daily transaction volume increased from $ 1.76 million to $ 15.5 million, while the total volume exceeded $ 448 million for the next eight days. However, this rise was short and as of March 9, the transaction volume in Magic Eden has fallen by 95 percent. The biggest reason behind the sudden increase was the NFT collection called Idiots on the platform.
Sudden rise and decrease in Ordinals transactions
This sudden mobility in the Bitcoin Ordinals ecosystem Magnalist It took place in particular. On February 29, an average of $ 1.76 million per day, the volume of transactions jumped to $ 15.5 million the next day. Then, for eight days, an average of $ 50 million ordinals took place on the platform for eight days. In this process, the total transaction volume exceeded 448 million dollars.
However, it was soon understood that the rise was not sustainable. As of March 9, the transaction volume decreased by 95 percent compared to the previous day. The lack of similar mobility in other Ordinals market places except Magic showed that the rise was due to platform -specific reasons.
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Reason for the increase in Ordinals volume: Idiots Collection
The main reason behind the volume increase in Magicen Idiots 10 thousand pieces of NFT collection. This collection, which was mounded on Bitcoin Blockchain, attracted great attention with its one -week Mint process. Users made intensive purchase-sale through Magicen during the Mint process.
With the end of the Mint process, the volume fell rapidly. The volume of trading in Magicen returned to the levels before the Mint process. This showed that the mobility is not a long -term trend and that larger projects were needed.
At the Ordinals ecosystem, eyes are now at Taproot Wizards
The next great development in the Bitcoin Ordinals ecosystem Taproot Wizards The collection will be released. Inspired by the popular Bitcoin Wizard breast in 2013, this NFT collection was announced in February 2023 and created a large community in the Ordinals ecosystem.
The auction process that will take place in the coming weeks can create a new mobility in the Ordinals market. The fact that the rise in Magicen was limited to the Idiots collection showed that there was no long -term acceleration for Ordinals. However, the effect of large collections such as Taproot Wizards can bring a more permanent change to the ecosystem.
What is Taproot Wizards?
Taproot Wizards is one of the most known NFT collections in the Bitcoin Ordinals ecosystem. Inspired by Bitcoin Wizard Breast in 2013. The project announced in February 2023 has become one of the communities that support the spread of Bitcoin -based NFTs.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
