Data Analysis of Ordinals NFTs: Blue Chip Index (2023/5/25)

Analysis of Ordinal NFTs: Blue Chip Index (5/25/2023)

Encryption analyst Solblue created the Ordinals NFT blue chip indicator analysis tool and published an analysis of the data changes for various Ordinals NFTs with blue chip potential on May 25.

Background analysis: 1) Inscriptions (70% initial inscription + 30% final inscription); 2) Market Performance (44.5% trading volume + 55% MCap + 0.5% holder and supply ratio); 3) Social Media (40% Twitter + 60% Discord). 2) Blue Chip Index = 10% I + 65% M + 25% S. According to this formula, the blue chip index of each project today is: 1) DeGods, 428.56 (-4.28%); 2) Bitcoin Frogs, 376.56 (-17.14%); 3) Bitcoin Punks, 352.18 (7.65%); 4) Pixel Pepes, 233.84 (7.40%); 5) BTC Machine/Virus, 123.59 (-8.83%).

As expected, Bitcoin Frogs continued to fall in the past two days, with a low of around 0.055, which has caused many latecomers to stop losses and cut their losses. At the same time, Bitcoin Punks is catching up from behind, although the trading volume is not high, the rise in the floor reflects the community’s full recognition of the value of low-ranked projects. The Frog’s decline has also attracted many new people to continue to enter, and the number of holders has continued to rise. Reaching the bottom is just a matter of time.

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These past two days, there has been a strange atmosphere hanging over the market. In addition to the cooling of trading in various Ordinals, the continuous decline of ORDI has also dragged down the prices of various projects. Currently, ORDI has returned to the 8 yuan level from its low point. With the launch of Bitgod’s OXBT project, there is a chance for the BRC-20 sector to regain its upward momentum and drive the entire market. In addition, many people have begun to study Cursed Ordinals, and it is worth noting what impact it will have on the NFT market ecology!

Bitcoin Bandits, like Punks, benefit from the aura of low sequence number projects, and their floors are also rising against the trend. As for other second and third-tier projects, funds continue to flow out, and the floors cannot be held. Among them, NPC Ordinals has been hit hard by FUD and the DC group being hacked, constantly breaking through the bottom, it can be said that the house leaks when it rains at night.

Reference: https://twitter.com/SolblueHK/status/1661753992521859073

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