June 22, 2024

Brighton Journal

Complete News World

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

Exclusive: 57.8% of market participants prefer Bitcoin NFTs over Ethereum!
  • Bitcoin’s dominance fell on the back of survey participants stating their preference for meme currencies
  • The AMBCrypto survey also has some interesting observations about the popularity of Bitcoin NFTs

Bitcoin [BTC] NFTs have been gaining a lot of attention recently. In fact, AMBCrypto’s exclusive survey found that investors now actually prefer Bitcoin NFTs over Ethereum NTFs. Hence, it’s worth taking a closer look at what survey participants feel about Bitcoin NFTs, the cryptocurrency’s target price for the rest of 2024, as well as other findings.

What’s going on with Bitcoin?

Bitcoin has somewhat disappointed its investors after bullish market trends failed to materialize again. In fact, at the time of writing, the Kingcoin is down 2% on the weekly charts, with BTC trading 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 quite a niche for themselves among modern-day investors.

AMBCrypto exclusive a report It revealed that a large number of traders are attracted to the emerging field of Bitcoin NFTs. Accordingly, 57.8% of market participants want to invest in Bitcoin NFTs rather than Ethereum NFTs, compared to 11.8% who believe that NFTs are suitable with the Ethereum blockchain only.

The AMBCrypto report also looked at how BTC arrangements worked, as demand and polarity appeared to be higher than those for Ethereum NFTs. According to Dion Analytics DataThe total number of coins in BTC is about to reach 67 million. Additionally, Ordinals’ fees had reached $6,829.9662 at press time – a commendable number.

See also  AT&T signs Ericsson for $14 billion network revamp, ousting Nokia

Memecoins higher than Bitcoin?

While Bitcoin may be making waves on the NFT front, it hasn’t all been good for the world’s largest cryptocurrency. In fact, the same can be proven by the decline in Bitcoin’s market dominance over the past few days.

Source: Bitcoin Dominance, TradingView

This is not all like AMBCrypto a report It also found that investors actually prefer memcoins over Bitcoin. To be precise, 53.7% of survey respondents preferred memecoins over Bitcoin.

is reading Bitcoin (BTC) price prediction. 2024-25

As Bitcoin trades within a narrow price range on the charts, its weighted sentiment has declined significantly. Soon after, bearish sentiment also took effect, having an impact on the cryptocurrency price movement.

If Bitcoin NFTs continue to be as popular as they are now, this popularity could help spur a rise in the cryptocurrency’s price over the next few weeks.

BTC weighted sentiment has fallen BTC weighted sentiment has fallen

Source: Santiment

NEXT: Bringing back the face of PEPE – everything that helped the memecoin in May