- Bitcoin NFT sales surpass Ethereum for the first time, driven by a massive spike in demand for NodeMonkes NFTs.
- A Bitcoin whale spent over 53 BTC for 6 NodeMonkes worth approximately $3.35 million, according to NFTstats.eth.
- NodeMonkes ranks third after Crypto Punks and Bored Ape Yacht Club with over $550 million in market cap.
Bitcoin (BTC) has seen a resurgence in the non-fungible token narrative with NodeMonkes, a collection of pixelated NFTs on the BTC blockchain. The popularity of the 10,000 NFT collection is driven by interest from Bitcoin whales, whose buying interest is supporting the rapid increase of the project’s market capitalization.
NodeMonkes is driving a Crypto Punk-like frenzy as the Bitcoin Ordinals trading market sees a massive spike in transactions, users and trade volume.
Also read: Bitcoin NFTs make comeback in weekly sales, flipping Ethereum
Bitcoin NFT collection NodeMonkes sees spike in popularity
The interest from Bitcoin’s large wallet investors has pushed pixelated Ordinals collection NodeMonkes to the top three NFTs, by market capitalization. NodeMonkes are not technically NFTs, they are Ordinals on the Bitcoin blockchain. These pixelated images are inscribed on individual fragments of Bitcoin, known as Satoshis.
Data from NFTstats.eth shows that a Bitcoin whale spent on xxxxxx 53.45 Bitcoin to acquire 6 NodeMonkes worth nearly $3.35 million.
HELLO. This wallet just swept 6 Alien NodeMonkes for 53.45 BITCOIN (3.35M United States Dollars). pic.twitter.com/G6xSbgeWkd
— DGMD (@DGMD22) March 3, 2024
Ordinals make comeback on Bitcoin
The Ordinals trading volume on Bitcoin climbed to a peak of $51.14 million on Sunday, the highest level since December. The number of transactions and users of Bitcoin Ordinals hit a two-month peak as NodeMonkes resurfaced after their 2023 launch.
Ordinals trading volume. Source: Dune
The Bitcoin NFT space was plagued by low trade volume for weeks, but the narrative has returned with the resurgence in demand for the NodeMonke collection. The project announced that Gavin the Monke, an NFT from the collection, will be auctioned by Sotheby’s.
AUCTION: Gavin The Gavel Monke, 10 am ET via @sothebys. No reserve. Duration 10 days. Gavin honors the Sothebys auction house and its contribution to the on-chain art movement. We will donate our proceeds of sale to a tree planting charity in honor of Gavin's mahogany comrades. pic.twitter.com/f45zyx1Uz4
— NodeMonkes ◉ (@nodemonkes) January 12, 2024
The co-founder of an animated generative art collection Numeric Archetypes, who goes with the X handle @wronguser000, said NodeMonkes could flip Crypto Punks, the largest NFT collection by market capitalization.
After missing CryptoPunks, it was everyone's second chance at accumulating the second most valuable 10K PFP ever created
— WR☻NGUSER ✗ (@wronguser000) February 24, 2024
I would even argue that eventually in a few years time, Monkes can flip Punks
Underestimating the mother chain? Definitely couldn't be frog pic.twitter.com/wPv2g8YKRc
Find out more about how Bitcoin NFTs compare against Ethereum, here.
NodeMonke floor price is up nearly 8% in the past 24 hours, to 0.87 BTC, early on Monday. The collection’s market capitalization is at around $557.5 million.
Bitcoin price is $64,800 at the time of writing. Expectations surrounding the upcoming halving, whale interest in Ordinals, and the rising inflow to Exchange Traded Funds (ETFs) is likely to catalyze further gains in the asset.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin, Ethereum and XRP steady as China slaps 125% tariff on US, weekend sell-off looming?
The Cryptocurrency market shows stability at the time of writing on Friday, with Bitcoin (BTC) holding steady at $82,584, Ethereum (ETH) at $1,569, and Ripple (XRP) maintaining its position above $2.00.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
Bitcoin, Ethereum, Dogecoin and Cardano stabilze – Why crypto is in limbo
Bitcoin, Ethereum, Dogecoin and Cardano stabilize on Friday as crypto market capitalization steadies around $2.69 trillion. Crypto traders are recovering from the swing in token prices and the Monday bloodbath.
Can FTX’s 186,000 unstaked SOL dampen Solana price breakout hopes?
Solana price edges higher and trades at $117.31 at the time of writing on Friday, marking a 3.4% increase from the $112.80 open. The smart contracts token corrected lower the previous day, following a sharp recovery to $120 induced by US President Donald Trump’s 90-day tariff pause on Wednesday.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.