NFTS and Ordinals volume is going up

Hello friends,

Kaloh here, from Kaloh’s Newsletter and Kaloh’s Podcast.

I've been thinking about a new way to share data clearly and simply, and today I decided to try it out.

Welcome to Onchain Charts! Here, I'll be sharing some fascinating charts about crypto, blockchain, and the new internet. These charts are minted on the blockchain, so feel free to collect them if you like.

You can follow Onchain Charts on Farcaster, Instagram and X.

To kick things off, here is a year to year chart on NFTS and Ordinals volume.

NFTs have been on a steady down trend since the bull market and record breaking volumes from 2021 and 2022. On 2023, the market fell off over 50% compared to the previous year.

It isn’t all bad news, as we can see two bright signs from today’s chart.

First, 2024 volume is projected to surpass 2023. Secondly, Bitcoin Ordinals, a new way to create digital objects on Bitcoin, is now part of the equation. Ordinals have been slowly growing in adoption from their inception in January 2023.

Do you see other bright signals in this chart? Let me know by replying to this email.

Until next time,

Kaloh