The NodeMonkes NFT collection rose from 10th to 5th in the overall market cap rankings this week. These pixelated primates come from the Bitcoin blockchain.
CoinGecko data shows NodeMonkes trading at a cool 0.22 BTC per NFT, up 15.3% in the last 24 hours. The collection’s seven-day performance is even more impressive, with an increase of 67.4%. Over the past month, NodeMonkes has seen a solid 40.4% increase in value.
The @nodemonkes NFT collection has risen from #10 to #5 over the past seven days, becoming the fifth largest NFT collection by market cap. pic.twitter.com/cBRhJhWr7X
— CoinGecko (@coingecko) September 24, 2024
The growth of NodeMonkes
NodeMonkes is not just a copycat NFT project. Launched in December 2023, it is one of the first major collections to use Bitcoin’s Ordinals protocol, where each 28×28 pixel artwork is engraved directly onto a satoshi, Bitcoin’s smallest unit.
The anonymous creator behind NodeMonkes deliberately delayed the launch to allow the Ordinals ecosystem to mature. This strategic move seems to be paying off as the collection continues to gain traction.
NodeMonkes’ first drop used a Dutch auction format, starting at 0.21 BTC and decreasing by 0.005 BTC every hour until all 8,000 available pieces found a home.
As NodeMonkes continues to rise, it is challenging the idea that Ethereum is the only playground for serious NFT projects.
The question now is: will NodeMonkes maintain its momentum, or is this just a temporary wave that could fade in a few days.