Bitcoin NFTs Rocket while Investors Await US Debt Decision

Written by BTSE

May 23, 2023

Crypto Market Analysis

Trending Tokens on BTSE:

24h %








(as of  2:30 AM UTC, May 23, 2023) 


The cryptocurrency market has continued to hold steady, with high market cap cryptocurrencies like Bitcoin and Ethereum seeing minor jumps in value, while some altcoins continue to show more dramatic price changes. BTSE-listed Vega Protocol (VEGA) shot up 42.78% overnight in Asia, while Volt Inu (VOLT) dropped a staggering 73.07% in the same time. 

In terms of large-market cap cryptocurrencies, some analysts believe the holding pattern exhibited by, in particular, Bitcoin and Ethereum are symptoms of larger macroeconomic factors – the largest of which being the potential US debt default. With no end in sight, and the end-of-May deadline looming, investors continue to wait, and high market cap prices continue to hold.

This morning, traders also woke up to a new report from CoinShares. The report detailed a continued outflow of Bitcoin for the fifth week in a row. In its most recent calculation, last week Bitcoin saw outflows of up to US$32 million, which the report claims are a result of poor investor sentiment – but, at the same time, it reports that both long and short products are experiencing outflows.

Meanwhile, according to CryptoSlam, Bitcoin NFT sales volume has shot up by as much as 389%, grossing as much as US$166 million in volume in the last 30 days. This puts it second only to Ethereum in NFT sales volume this month. Still a newcomer to the NFT scene however, Bitcoin’s total NFT sales volume of US$300 million sits in just tenth place overall, and pales in comparison to frontrunner Ethereum’s staggering US$43 billion in NFT sales volume. 


Trade Bitcoin on BTSE here.

Join our Telegram news channel here.


Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at or on Twitter @BTSE_Official.

Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

Related Articles

Stay Informed with BTSE

Join Our Newsletter

Never miss a beat with the latest updates and industry insights from BTSE.

Follow Us

Join our rapidly growing community and exclusive events!