Key Points
- Bitcoin-based NodeMonkes recorded the second highest NFT sales volume in the last 24 hours.
- Ethereum NFTs are no longer dominating the market due to the introduction of Ordinals.
The non-fungible token (NFT) market is known for its volatility, with new projects frequently emerging to captivate enthusiasts.
NodeMonkes’ Rise
The latest sensation in the NFT market is NodeMonkes, a Bitcoin-based collection. According to CoinGecko’s data, NodeMonkes’ floor price, the minimum price at which an NFT can be sold, increased by over 50% in the last 24 hours. This made it the second-largest NFT collection at the time.
At the time of writing, NodeMonkes’ floor price was 0.82 BTC, equivalent to over $55k. This was just below the blue-chip powerhouse, CryptoPunks, whose floor price was above $177k. The surge highlighted how NodeMonkes surpassed the other giant, Bored Ape Yacht Club (BAYC). Notably, NodeMonkes also logged the second-highest sales volume in the last 24 hours, totaling over $4 million, a jump of 106%.
NodeMonkes, a product of the now-popular Ordinals technology, are a collection of 10,000 unique monkey-inspired digital artworks. The NFT grabbed the attention of the market earlier this month when one of its sales topped $1 million. This sale coincided with a sharp uptick in Bitcoin’s price, which likely contributed to the USD figure.
Shift in NFT Landscape
However, NodeMonkes wasn’t the only Ordinals-based collection making waves in the market. Runestone, a project led by Ordinals developer Leonidas, saw a 40% spike in its floor price in the last 24 hours to top 0.04 BTC.
The success of these collections signifies a paradigm shift in the broader NFT landscape. While Ethereum NFTs have dominated this sector since they burst onto the scene in 2021, the introduction of Ordinals has significantly altered the dynamics. As a result, Bitcoin has become the most favored network for NFT transactions.
According to CryptoSlam’s data, Bitcoin was the top-ranked chain in NFT sales over the last week, followed by Ethereum and Solana.
