Bitcoin NFT NodeMonkes has recorded significant growth, surpassing BAYC with a more than 50% increase in base price. Separate from the general trend of the stagnant non-fungible token (NFT) market, interest in Bitcoin NFT tokens is growing.
Recently, Bitcoin NFT NodeMonkes has undergone a major boost, surpassing the interest of some of the most famous and reputable companies in the market. This is evidenced by the fact that NodeMonkes has surpassed BAYC in the NFT market.
Bitcoin NFT NodeMonkes Soars
The underlying price of the Bitcoin NFT NodeMonkes increased significantly to 0.82 BTC within 24 hours, equivalent to a market capitalization of approximately $150 million. This puts NodeMonkes ahead of Bored Ape Yacht Club (BAYC) and firmly in second place in the NFT market, behind only CryptoPunks, thanks to this surge in growth.
According to data from CoinGecko, the market value of CryptoPunks currently reaches $1.76 billion, while the market capitalization of Bored Ape Yacht Club (BAYC) is only at $490.9 million.
Meanwhile, NodeMonkes recorded a sharp increase in sales, reaching a total of $5.1 million after increasing 140.8% over the previous 24 hours. At the same time, another Bitcoin non-fungible token project, known as Runestone, has also recorded significant growth, with its value surpassing the 0.04 BTC mark after increasing by more than 50% in last week.
In the ranking of the most important non-fungible token (NFT) projects, Runestone overtook Mutant Ape Yacht Club (MAYC) to take sixth place, with a market valuation of $310 million.
Investors in non-fungible tokens (NFTs) are gradually turning their attention to Bitcoin NFTs, a significant reaction in the cryptocurrency industry. This also reflects the shift noticed between SOL meme currencies from Ethereum (ETH).
This model has attracted growing interest from buyers and enthusiasts, causing them to flock to platforms that host non-fungible Bitcoin tokens (NFTs). Notable projects such as Runestone and NodeMonkes are also receiving special attention.
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NodeMonkes’ success in toppling the popular Bored Ape Yacht Club (BAYC) NFT has sparked broader interest, especially given that BAYC has faced massive selling pressure in recent weeks. Analysts believe that the move could be partly influenced by rising gas prices on the Ethereum network coupled with a perceived saturation in the NFT market, evident in falling prices even among projects famous as PudgyPenguins.
According to a data dashboard provided by The Block, monthly trading volume on Ethereum-based NFT platforms has dropped significantly. Total volume in February fell from $867.8 million to $786.5 million, and to $503.1 million year-to-date in March. Despite these market fluctuations, the Interest in Bitcoin non-fungible tokens (NFTs) continues to grow, highlighting a shift in the tastes and techniques of NFT traders in general.
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