Bitcoin NFT Sales Soar to $168.5M, Eclipse Ethereum

Bitcoin NFT Sales Soar to $168.5M, Eclipse Ethereum

Key Points

  • Bitcoin NFT sales surged by 80% week-over-week, totalling $168.5 million.
  • Ethereum NFT sales reached $162 million, with BTC overtaking due to Ordinals’ popularity.
  • NodeMonkes leads with over $41 million in sales, boosting Bitcoin’s NFT market.
  • Ethereum’s price is $3,483.83, with a 37.65% increase in trading volume.
  • Binance Coin (BNB) sees a 38.10% rise in 24-hour trade volume, priced at $415.13.

In the last week, a notable shift occurred: Bitcoin NFT sales soared by 80%, amassing $168.5 million, marking a significant increase. Fueled by the Bitcoin Ordinals craze, Bitcoin eclipsed Ethereum in NFT sales for the first time, showcasing a market shift. Central to this development is the emergence of NodeMonkes, a collection that contributed over $41 million to sales.

Ordinals Spark Bitcoin Revolution

Introduced in January 2023, Ordinals revolutionized Bitcoin’s role in the NFT domain by allowing the insertion of files into satoshis, the smallest unit of Bitcoin. This innovation created a new avenue for NFT-like asset creation, diversifying Bitcoin’s use cases and attracting significant attention to its burgeoning market.

NodeMonkes Leads with $41M Sales

Beyond NodeMonkes, the NFT landscape saw remarkable sales across various collections. Uncategorized Ordinals transactions surpassed $43 million from over 47,000 deals. Additionally, NodeMonkes, with its significant week-over-week sales increase of nearly 170%, and Natcats, with sales over $10 million, underscore the vibrant activity and investor interest in Bitcoin-based NFTs. As of March 2, NodeMonkes, with a market capitalization surpassing $500 million, notably stands out in the PFP (Profile Picture) NFT collection domain.

Ethereum’s Volume Up 37.65%, $16B Traded

Despite Bitcoin’s headline-grabbing performance, Ethereum maintains a robust presence in the NFT market, with total sales reaching $162 million. The Ethereum ecosystem continues to thrive, evidenced by a substantial 37.65% increase in trading volume, reaching $16 billion. Ethereum’s market valuation stands at $418.58 billion, with its price at $3,483.83, reflecting sustained confidence among investors and traders.

BNB Volume Leaps 38.10%, Priced at $415.13

The cryptocurrency market beyond Bitcoin and Ethereum also displayed vibrant dynamics. Remarkably, Binance Coin (BNB) saw a 38.10% surge in 24-hour trade volume, hitting $1.93 billion, with its price at $415.13. This activity highlights the market’s growth and the expanding interest in digital assets across various blockchain platforms.

Recently, Ordinals sparked a significant shift, moving NFT sales dominance from Ethereum to Bitcoin, marking a pivotal market moment. As the landscape continues to evolve, the competition between Bitcoin and Ethereum in the NFT space promises to bring further innovation and excitement to the digital asset community.