According to Trevor.btc, six of the top ten NFT projects by market cap are utility-focused, a fact that early investors in these projects leveraged to achieve significant financial gains. This insight is crucial for Bitcoin Ordinals traders who might not be aware of the potential in utility-based NFTs.

According to Milk Road, the NFT market cap has declined by more than 90% since 2021, as has the sales volume. This significant drop in market performance indicates a challenging environment for NFT trading. Traders should consider the current market conditions and historical performance before making investment decisions. Source: Milk Road.