Sneak Peek
- Bitcoin NFT’s have soared by 80% in sales week-over-week. This is a significant trend for the digital asset markets.
- NodeMonkes collections, featuring unique profile pictures in pixelated format, have experienced a dramatic increase in sales. NodeMonkes has a market capital of over $500M.
- Kevin Wu, the founder of Graycraft, believes that NodeMonkes appeal lies in its simplicity. “meaningful provenance” As the first PFP style NFT collection on Bitcoin.
Bitcoin NFTs are gaining popularity, with sales numbers that outpace Ethereum. Bitcoins’ sudden rise nonfungible token (NFT) Sales, mainly driven by collections such as NodeMonkes have propelled Bitcoin to the top of weekly sales volumes for Ethereum.
Data from CryptoSlam shows that Bitcoin NFT sales have soared by 80% in the last week, to $168.5 Million, exceeding Ethereum’s sales of $162 Million. This increase was driven primarily by the rise of Bitcoin Ordinals based collections. Three of the top five NFT collections were Bitcoin Ordinals based.
NodeMonkes emerged as one of the key players in this revival. The collection contains 10,000 unique Ordinals (pixelated profile photos). NodeMonkes’ sales increased by nearly 170% from the week before, bringing it to $41 million. Bitcoin NFT space
Ordinals that are not classified and do not belong to any collection attracted the highest sales. Over $43 million was spent in over 47,000 transactions. Natcats from the Ordinals Collection also made an impact with sales of over $10 Million.
NodeMonkes market capitalization has surpassed $500 million, making it the third largest PFP-style collection of NFTs across all blockchains. It trails only Ethereum-based Bored Ape Yacht Club (BAYC). NodeMonkes recent rise is still not entirely clear, despite its impressive performance.
Let me explain why I don’t buy NFTs as often anymore. @nodemonkes thesis.
Multiple factors must be in alignment for a provenance game to have any real meaning. @nodemonkes Luck/skill is the only way to go.
1. You never thought that another significant provenance play would appear after @cryptopunksnfts.… pic.twitter.com/MbvmxmnnOi
— Kevin Wu (@kevwuzy) February 22, 2024
Kevin Wu, the founder of Graycraft NFT collection, says that NodeMonkes is a very powerful tool. “meaningful provenance” As the first PFP style NFT collection “the first chain ever,” Its appeal to speculative traders could be one factor.
You can also read about the advantages of using Bitcoin NFTs NodeMonkes continues to grow in popularity, and its meteoric rise is proof of the increasing prominence of Bitcoin collections within the NFT industry. NodeMonkes’ unique offering and compelling story has helped it carve out a place in the world of digital asset.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: www.todaynftnews.com