NFT Trading Volume Surges 17.16% in 7 Days, User Activity Doubles

4 min readMay 19, 2025

#NFT #bitcoinNFT #EthereumNFT

Is the NFT Market Back?

Last week, the crypto space was set ablaze by a surprising development: NFT market trading volume surged by 17.16%, with a 7-day user growth of over 100%. Dormant NFT Discord groups suddenly sprang back to life.

Even more astonishing, it wasn’t Ethereum or Solana — the chains we’ve been watching day in and day out — that stole the spotlight this time, but rather Bitcoin NFTs that emerged as the biggest dark horse.

Let’s look at the data signaling this shift:

Total NFT trading volume: Climbed to $130 million over the past 7 days
Total NFT transactions: ~1.5 million (roughly flat week-over-week)
NFT buyers: ↑ 138.96%
NFT sellers: ↑ 98.69%
Bitcoin NFT sales: ↑ 50.33%, reaching $47.74 million
Polygon NFT sales: ↑ 22%, reaching $19.63 million

This isn’t just noise — it’s a signal. The market is shifting. It’s no longer just Azuki or Pudgy Penguins dominating the charts, and Ethereum is no longer the lone king. Bitcoin NFTs surged over 50%, making Bitcoin the top-performing NFT blockchain this week.

Bitcoin NFTs: From the Edge to the Spotlight

Among all blockchains, Bitcoin NFTs posted the highest growth. This isn’t just a numerical spike — it’s a signal of Bitcoin NFT infrastructure moving from fringe to mainstream.

What are Bitcoin NFTs?

When people think of NFTs, they usually think of Ethereum, platforms like OpenSea, and collections like BAYC or CryptoPunks. Historically, Bitcoin wasn’t even considered an NFT platform — it lacked smart contracts altogether.

That changed with the emergence of the Ordinals protocol, which allows users to inscribe images, text, or videos directly onto individual satoshis, effectively turning them into NFTs. In 2023, this led to a surge in Bitcoin NFT activity, but limited infrastructure and poor UX stalled its momentum.

This time, however, the surge isn’t just emotional — it reflects a fundamental shift. Bitcoin’s NFT ecosystem is now entering a new phase of protocol-level competition, reminiscent of the early Ethereum DeFi boom. As highlighted in the recent piece “BTC Is Back: Renewed Ecosystem Growth Fuels Protocol-Level Rivalry”, Bitcoin is evolving from a 1.0 token-issuing layer into a 2.0 DeFi + NFT battleground.

Why Now?

Improved Tooling:
Using Ordinals used to require juggling multiple wallets and clunky UX — much like early DeFi on Ethereum. Now, tools like Unisat, Xverse, and Magic Eden’s Bitcoin integration have made user experience far smoother. Wallet connection, inscription viewing, and trading feel closer to Web2 than ever before.
Changing Market Psychology:
Many investors have grown tired of the ERC-721 lifecycle of hype, mint, and collapse. Bitcoin NFTs, on the other hand, offer true digital scarcity, anchored by Bitcoin’s reputation as the most secure and widely trusted asset. Some even believe Bitcoin NFTs will become the true “digital relics” of the Web3 era.

This isn’t wishful thinking — CryptoPunks succeeded because they were early, scarce, and meaningful. Bitcoin inscriptions, due to the high on-chain storage cost, already carry a “digital stone tablet” aesthetic.

Who’s Buying? And What Are They Buying?

Despite a 50% jump in Bitcoin NFT sales, the number of active users actually declined — suggesting that this volume spike is driven by a small number of deep-pocketed buyers. These aren’t just casual speculators — they appear to be strategic collectors and possibly institutions.

The week’s top performer was NodeMonkes, raking in $18.77 million in sales. NodeMonkes is the first complete 10,000-piece PFP collection deployed on Bitcoin, fully inscribed on the base layer via Ordinals.

The concept is simple yet powerful: the first PFP collection fully minted on Bitcoin carries symbolic weight. It represents the “first mark” etched into Bitcoin NFT history, giving it immense value among crypto archaeologists.

Unlike Solana’s meme-rich speculative culture or Ethereum’s art-functionality fusion, Bitcoin NFTs feel like digital archaeology — whoever can inscribe the earliest, rarest, and most meaningful assets may hold tomorrow’s museum-grade collectibles.

The Bitcoin NFT Ecosystem Is Growing

In the past, Bitcoin users were mostly HODLers. But now, there’s a clear user stratification: PFP collectors, inscribers, OG collectors, and token issuers. An emerging subculture is forming.

We’re witnessing a new era where classic collections are resurging and new projects are driving innovation. NodeMonkes, Runestone, Bitcoin Puppets — all are regaining attention. Simultaneously, platforms like Bitmap and Ordinals Wallet are pushing creative boundaries.

More importantly, institutions are starting to take notice. Venture capital firms and DAOs are allocating capital to high-end Bitcoin inscriptions — not for quick flips, but for long-term cultural asset appreciation.

Bitcoin NFTs are evolving into a hybrid of cultural asset, collectible, and on-chain identity.

What About Other Blockchains?

Besides Bitcoin, other chains also showed changes in NFT sales:

Ethereum: ↑ 21.47%, hitting $41.3 million — still the leader
Polygon: ↓ 22.85%, down to $14.5 million, dropping to third
Solana: ↑ 17.31%, reaching $8.9 million, showing modest recovery

Conclusion

Despite slight pullbacks in the broader crypto market, the NFT sector continues to grow. Ethereum remains the dominant chain, but Bitcoin is quickly gaining ground with a rush of high-quality NFT projects.

These positive signals suggest that the NFT market is gradually recovering, and it’s a trend that investors should keep a close eye on.