Bitcoin Ordinals project NodeMonkes has briefly surpassed the Bored Ape Yacht Club (BAYC) in market capitalization on Monday.
According to cross-chain NFT marketplace Magic Eden, NodeMonkes’ market cap temporarily surpassed BAYC’s market cap.
However, at the time of writing, NodeMonkes traded back below to a market cap of 6,500 BTC, or around $419 million, while BAYC’s market cap is 135,000 ETH, or around $453 million.
Launched in December, NodeMonkes is a collection of 10,000 8-bit monkey-themed digital collectibles.
The market cap for an NFT project is the floor price multiplied by the number of assets in the collection.
See Also: Book of Meme (BOME) Forecasted To Hit New ATH: Here’s When
The surge in NodeMonkes’ value is part of a broader trend of rising demand for Bitcoin Ordinals projects.
Ordinals are digital artifacts that can be inscribed onto the Bitcoin blockchain.
Over the last week, Ordinals projects have racked up $135 million worth of trading volume, per data from CryptoSlam, while Ethereum NFTs have tallied $110 million in sales volume.
Another prominent Ordinals project, Runestone, has also seen a surge in value.
Following an airdrop on March 14, the collection of 112,383 tokens on Bitcoin skyrocketed into the top three most-traded NFT projects, with $5.3 million in daily trading volume.
The Runestone airdrop was a significant milestone for the collection, and the main event will occur after the Bitcoin halving in April when the Rune token protocol by Ordinals creator Casey Rodarmor comes online.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
#Binance #WRITE2EARN
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://bitcoinworld.co.in/bitcoin-ordinals-collection-nodemonkes-briefly-surpassed-bayc-in-market-cap/
- 000
- 10
- 135
- 14
- 19
- 20
- 500
- a
- advice
- after
- airdrop
- also
- an
- and
- any
- ape
- Application
- approval
- April
- ARE
- around
- Assets
- At
- back
- based
- BE
- before
- below
- Bitcoin
- BitcoinWorld
- blockchain
- bored
- Bored Ape Yacht Club
- broader
- BTC
- burned
- by
- CAN
- Cap
- capitalization
- casey
- category
- club
- CO
- Coin
- collectibles
- collection
- comes
- consultation
- Court
- creator
- Cross-Chain
- CryptoSlam
- daily
- data
- December
- decisions
- Demand
- digital
- digital collectibles
- district
- district court
- end
- ETF
- ETFs
- ETH
- ethereum
- EU
- Event
- far
- floor
- For
- from
- Halving
- has
- Have
- HIT
- holds
- HTTPS
- in
- include
- Independent
- information
- into
- investment
- Investments
- Is
- last
- liability
- made
- main
- Main Event
- Making
- March
- Market
- Market Cap
- Market Capitalization
- marketplace
- meme
- milestone
- million
- Monday
- New
- NFT
- NFT marketplace
- NFT Projects
- NFTs
- no
- not
- number
- occur
- of
- on
- online
- onto
- or
- page
- pairs
- part
- per
- plato
- plato data intelligence
- platodata
- platogaming
- price
- professional
- project
- projects
- prominent
- Protocol
- provided
- push
- qualified
- recommend
- research
- rising
- sales
- SEC
- seen
- significant
- strongly
- surge
- surpassed
- tag
- that
- The
- this
- three
- time
- to
- token
- Tokens
- top
- traded
- Trading
- trend
- up
- Updates
- USDT
- value
- volume
- was
- we
- week
- when
- while
- will
- with
- worth
- writing
- yacht
- zephyrnet