Data Analysis of Ordinals NFTs: Blue Chip Index (2023/5/28)

Encryption analyst Solblue created the Ordinals NFT blue chip indicator analysis tool and wrote an analysis of the data changes for various Ordinals NFTs with blue chip potential on May 28.

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). The blue chip index equation is 10% I + 65% M + 25% S. According to this equation, the blue chip index of each project today is: 1) Bitcoin Frogs, 473.15 (+25.65%); 2) DeGods, 428.56 (+0.09%); 3) Bitcoin Punks, 336.55 (-4.44%); 4) Pixel Pepes, 228.83 (-2.14%); 5) BTC Machine/Virus, 132.95 (+7.58%).

In the Ordinals world, Bitgod, the most iconic figure, launched $OXBT, which received a positive market response. Many big players have also bought it, causing the price of $OXBT to rise, with the momentum of being the second BRC-20. With the help of $OXBT, the trading situation in the Ordinals NFT sector has been stimulated. After the “Orange PFP” movement initiated by Bitgod and many other big names in the circle on Twitter, there are signs that NFT big names on Ethereum have also started to enter the Ordinals field, and the future development is becoming optimistic.

Bitcoin Frogs quickly rebounded after a bottom-building phase a few days ago, reaching a high of 0.095 and regaining its position as the blue chip leader. The number of holders continues to grow healthily, and the next resistance level will be 0.1, with an expected small pullback. Other projects also have good gains, including many wizard floor prices favored by foreigners. However, many end-stage projects still have not benefited from this round of turning points. In addition to light trading volume, there are still many paper hands leaving the market, making it difficult for the floor to return to the level it was at when it was first launched a few days ago. It can be predicted that the chances of new projects breaking through will increase, and the benefits of scalpers will decrease, so please always maintain risk awareness.


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