By
Temitope Olatunji
April 26th, 2024
NodeMonkes is not the sole Bitcoin-based NFT experiencing significant performance gains. Bitcoin’s surge to a new all-time high above $70,000 has sparked increased interest in the BTC ecosystem.
NodeMonkes, a non-fungible token (NFT) collection minted on the Bitcoin (BTC) blockchain, has once again captured headlines after reaching a sales volume of $11.4 million earlier this month.
This time, the floor price of Bitcoin NodeMonkes surged by over 50%, reaching an all-time high of 0.82 BTC for one of its unique collections, which consists of 10,000 characters in ordinals. The surge brings the figure to $55,853, surpassing other NFT projects like the Bored Ape Yacht Club (BAYC).
NodeMonkes Becomes Second Largest NFT Collection in the Market
NodeMonkes has seen a total market capitalization of over $558.9 million in the past 24 hours, according to data from CoinGecko. In terms of sales volume, the ordinal collection boasts $4 million with 80 recorded sales.
Ownership of the unique NFTs has also increased by 0.2% in the last 24 hours. With this impressive performance, the NFT collection has become the second-largest NFT project in the market after CryptoPunks.
CoinGecko data showed that CryptoPunks’ market capitalization soared to $1.76 billion, while the Bored Ape Yacht Club (BAYC) reached $490.9 million.
Bitcoin Blockchain Garners Attention from NFT Traders
NodeMonkes is not the sole Bitcoin-based NFT experiencing significant performance gains. Bitcoin’s surge to a new all-time high above $70,000 has sparked increased interest in the BTC ecosystem.
Ordinal Maxi Biz (OMB), another NFT collection, has notably performed well in the last 24 hours, boasting a 32.6% increase in floor price, now selling for 0.4 BTC. The collection commands a market cap of $69 million with a sales volume exceeding $2 million.
Similarly, Runestone, another Bitcoin NFT, has seen massive growth, soaring by over 50% in the past week to surpass 0.04 BTC in value.
With a market capitalization of $310 million, Runestone has overtaken Mutant Ape Yacht Club (MAYC) to secure the sixth position among the largest NFT projects.
Commenting on the latest performance of Bitcoin-based NFTs, Nick Ruck, a senior executive at ContentFi Labs, told The Block that the recent surge can be attributed to NFT traders shifting their attention from the Ethereum (Ether) ecosystem to Bitcoin.
“Just as token traders pivoted from ETH to SOL memecoins, NFT traders have been pouring into Bitcoin NFTs. Runestone and NodeMonkes have seen a surge in buyers and enthusiasts with the latter having managed to flip BAYC which has seen a major selloff in recent weeks,” said he.