Global asset manager Franklin Templeton has acknowledged the transformative impact of Bitcoin Ordinals on the cryptocurrency industry, marking a significant uptick in Bitcoin-centric innovation.
The investment management’s digital assets arm shared a recent briefing titled “The Rise of Bitcoin Ordinals on its social media account, outlining the rise of Bitcoin non-fungible tokens (NFTs) as a catalyst for a resurgence of activity within the Bitcoin network.
The asset manager’s report underscores the increasing prominence of Bitcoin in the NFT market, with Bitcoin Ordinals witnessing a surge in trading activity and market visibility.
Franklin Templeton highlighted various Bitcoin Ordinals collections, such as NodeMonkes and Runestone, for their leading roles in trading volume and market cap in the NFT realm.
The firm’s perspectives shared in its briefing are consistent with the Bitcoin network’s performance last month, which dominated the NFT market.
In March, it led all blockchains in monthly NFT sales with US$514 million and surpassed US$3 billion in all-time sales, becoming the fourth network in history to do so.
Franklin Templeton also warned investors of the inherent risks associated with these assets, including potential loss in value and lack of traditional financial protections.
Franklin Templeton has been proactive in educating its clientele on the crypto market’s segments, including the prospects and hazards of memecoins, and has ventured into the Bitcoin ETF arena with the introduction of the Franklin Bitcoin ETF (EZBC) for American investors.