UniSat Hits Record 9,600 Daily Users and 43% Market Share Following PIZZA Token Airdrop

2024-6-9 13:46

According to data from a Dune dashboard, UniSat, a leading Bitcoin service provider known for its Ordinals marketplace, recently achieved a milestone by recording nearly 9,600 unique daily users.

This marks a record high for the platform, highlighting its growing influence in the crypto community.

PIZZA Airdrop Fuels UniSat’s Recent Rise

Alongside this surge, UniSat captured 43% of the market share among Ordinals marketplaces on the same day. This is the first time since September 2023 that UniSat has surpassed the 40% market share. It outperforms competitors like OKX and Magic Eden, which previously dominated the market.

Read more: Top 5 BRC-20 Platforms To Trade Ordinals in 2024

Ordinals Marketplaces Market Share. Source: Dune

Many attribute UniSat’s recent success to its latest airdrop of the BRC-20 token PIZZA. On May 22, UniSat announced the deployment of the 5-byte ticker ‘pizza’ and offered free “slices” of pizza to eligible addresses, which has been fully distributed today.

PIZZA’s price jumped from 0.00008910 BTC ($6.18) to 0.000116 BTC ($8.04) following the airdrop. However, it now stabilizes at 0.0001085 BTC ($7.52) at the time of writing.

PIZZA Price Performance. Source: UniSat

This development is particularly interesting given that Runes token standard transactions have outperformed BRC-20 and Ordinals transactions. As of June 8, Runes transactions totaled 120,781, while BRC-20 and Ordinals transactions totaled 53,129 and 920, respectively. This trend has been ongoing since at least mid-April.

Despite the rise of other token standards within the Bitcoin ecosystem, the success of PIZZA demonstrates Bitcoin’s evolution beyond a store of value. Innovations in non-fungible tokens (NFTs) and decentralized finance (DeFi) drive this transformation, as Franklin Templeton highlighted in its April report.

Read more: Bitcoin NFTs: Everything You Need To Know About Ordinals

“In the past year, Bitcoin innovation and development has seen a renaissance in activity. Positive momentum in innovation is primarily driven through Bitcoin NFTs, known as Ordinals, new fungible tokens standards such as BRC-20 and Runes, Bitcoin Layer-2s, and other Bitcoin DeFi primitives,” the asset management giant wrote.

The post UniSat Hits Record 9,600 Daily Users and 43% Market Share Following PIZZA Token Airdrop appeared first on BeInCrypto.

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