- NodeMonkes recorded the second highest sales volume in the past 24 hours.
- Bitcoin was the top-ranked chain in NFT sales last week.
The non-fungible token [NFT] The market has been known to ebb and flow throughout its short history, with exciting projects popping up at various stages to capture the interest of enthusiasts.
NodeMonkes is making waves
The latest sensation was Bitcoin [BTC]-based NodeMonkes.
According to AMBCrypto’s analysis of CoinGeckos According to data, the floor price has increased by more than 50% in the last 24 hours, making it the second largest NFT collection at the time of writing.
Source: CoinGecko
A floor price is the lowest price an NFT can be sold for. In recent years it has become the gold standard for assessing the growth of a collection. The higher the floor price, the better.
At the time of writing, NodeMonkes’ floor price was 0.82 BTC, worth over $55,000, just below blue-chip powerhouse CryptoPunks, whose floor price was above $177,000.
The highlight of the wave was how NodeMonkes surpassed the other giant, Bored Ape Yacht Club [BAYC].
The Bitcoin-based collection also recorded the second-highest sales volume over the past 24 hours, totaling over $4 million. This represented a jump of 106%.
A product of the now popular Ordinals technology, NodeMonkes is a collection of 10,000 unique monkey-inspired digital works of art.
The NFT caught the market’s attention earlier this month when one of its sales exceeded $1 million.
Note that this sale was accompanied by a sharp increase in the price of Bitcoin, which likely contributed to the USD figure.
Ordinals fuel Bitcoin’s NFT ecosystem
But NodeMonkes wasn’t the only Ordinals-based collection to make waves in the market.
Runestone, a project led by Ordinals developer Leonidas, saw a 40% spike in its floor price to above 0.04 BTC in the past 24 hours.
The success of these collections reflected a paradigm shift in the broader NFT landscape.
Ethereum [ETH] NFTs have dominated this sector since they burst onto the scene in 2021.
Read Bitcoin’s [BTC] Price forecast 2024-25
However, the introduction of Ordinals has changed the dynamics significantly, making Bitcoin the network of choice for NFT transactions.
According to AMBCrypto’s analysis of CryptoSlams According to data, Bitcoin was the numero uno chain in NFT sales last week, followed by Ethereum and Solana [SOL].