Exclusive: 57.8% of market participants prefer Bitcoin NFTs over Ethereum’s!
How has the price of Bitcoin been affected recently, according to the latest market trends?
The price of Bitcoin has been affected recently due to a variety of factors, including bullish market trends and the popularity of Bitcoin NFTs. According to the web search context, Bitcoin's price reached an all-time high of about $68,800, continuing its rapid resurgence that began in late 2023. The digital token rose to $68,818 early Tuesday morning, well above its $44,000 valuation at the start of the year. Bitcoin's rapid rise has also helped push up the price of ether, Solana, and other popular cryptocurrencies this week.
One of the key factors driving the rally is the growing demand for Bitcoin NFTs. AMBCrypto's exclusive survey found that investors are now actually preferring Bitcoin NFTs over Ethereum NFTs. According to the survey, 57.8% of market participants want to invest in Bitcoin NFTs over Ethereum NFTs, compared to the 11.8% who think NFTs are suitable with Ethereum's blockchain only.
Another factor contributing to the rise in Bitcoin's price is the approval of spot ETFs by the U.S. Securities and Exchange Commission in January. This has attracted a huge influx of cash from investors, as spot bitcoin ETFs allow investors to gain direct exposure to bitcoin without holding it.
Despite these positive developments, it is worth noting that Bitcoin's market dominance has fallen recently, as investors are favoring memecoins over BTC. According to AMBCrypto's report, 53.7% of the surveyed respondents favored memecoins over Bitcoin.
What percentage of market participants expressed a preference for Bitcoin NFTs over Ethereum NFTs according to the AMBCrypto survey?
According to the AMBCrypto survey, 57.8% of market participants expressed a preference for Bitcoin NFTs over Ethereum NFTs.
Can you detail the current trading price of Bitcoin and its recent performance on the weekly charts?
The current trading price of Bitcoin is around $67,700. On the weekly charts, Bitcoin has experienced a 2% decline. Despite this dip, the cryptocurrency market has seen a growing interest in Bitcoin NFTs. AMBCrypto's recent survey revealed that 57.8% of market participants prefer Bitcoin NFTs over Ethereum's, while 11.8% believe NFTs are more suitable on Ethereum's blockchain. This growing interest in Bitcoin NFTs could potentially impact the crypto's price action in the coming weeks.