Exclusive: 57.8% of market participants prefer Bitcoin NFTs over Ethereum’s!

  • Bitcoin’s dominance fell on the backs of survey respondents, clearly indicating their preference for memecoins.
  • AMBCrypto’s survey also contains some interesting observations about the popularity of Bitcoin NFTs.

Bitcoin (BTC) NFTs have recently gained popularity. In fact, AMBCrypto’s exclusive survey found that investors now prefer Bitcoin NFTs over Ethereum NTFs. Therefore, it’s worth taking a closer look at what respondents think about Bitcoin NFTs, the crypto’s price targets for the remainder of 2024, as well as its other findings.

What is happening with BTC?

Bitcoin has somewhat disappointed its investors after market uptrends failed to reappear. In fact, at the time of writing, the royal coin was down 2% on the weekly charts, with BTC trading at just under $67,700 on the charts. Despite the tepid price action, it is interesting to note that, according to the survey, Bitcoin NFTs have created a niche for themselves among today’s investors.

AMBCrypto exclusivity report revealed that a significant number of traders are attracted to the emerging field of Bitcoin NFTs. According to the same, 57.8% of market participants want to invest in Bitcoin NFTs rather than Ethereum NFTs, compared to 11.8% who think that NFTs are only suitable for the Ethereum blockchain.

AMBCrypto’s report also looked at the progress of BTC ordinals, as their demand and polarity appeared higher than those of Ethereum NFTs. According to Dune Analytics’ data, the total number of BTC registrations is about to reach 67 million. Additionally, his Ordinals fees stood at $6,829.9662 at the time of publication – a commendable figure.

Memecoins above Bitcoin?

Although Bitcoin may be making waves on the NFT front, things haven’t gone very well for the world’s largest cryptocurrency. In fact, the fall in Bitcoin’s market dominance over the past few days may attest to this as well.

Source: Bitcoin Dominance, TradingView

It’s not all like AMBCrypto report also found that investors actually favor memecoins over BTC. To be precise, 53.7% of respondents preferred memecoins over Bitcoin.

Read Bitcoin (BTC) Price Prediction 2024-25

As Bitcoin traded in a tight price range on the charts, its weighted sentiment dropped dramatically. Soon after, the bearish sentiments also took a toll, which also impacted the crypto’s price action.

If Bitcoin NFTs continue to be as popular as they currently are, such popularity could help spur a rise in the price of the crypto over the coming weeks.

Weighted BTC Sentiment Fell Weighted BTC Sentiment Fell

Source: Santiment

Next: The PEPE re-flip – Everything that helped memecoin in May

News Source :
Gn bussni

Sara Adm

Aimant les mots, Sara Smith a commencé à écrire dès son plus jeune âge. En tant qu'éditeur en chef de son journal scolaire, il met en valeur ses compétences en racontant des récits impactants. Smith a ensuite étudié le journalisme à l'université Columbia, où il est diplômé en tête de sa classe.Après avoir étudié au New York Times, Sara décroche un poste de journaliste de nouvelles. Depuis dix ans, il a couvert des événements majeurs tels que les élections présidentielles et les catastrophes naturelles. Il a été acclamé pour sa capacité à créer des récits captivants qui capturent l'expérience humaine.
Back to top button