Bitcoin NFTs Surge: Ordinals Market Hits $4.2M in 24 Hours, Outshines Ethereum and Solana
September 25, 2024The non-fungible token (NFT) market has seen positive growth due to this resurgence of Bitcoin Ordinals, which had previously faced a significant decline in trading sales volume.
NodeMonkes leads the collections with $838,363 in sales, despite a 21% decrease from the previous day.
Bitcoin Puppets, created by a 12-year-old, achieved $754,058 in sales, reflecting a 48% increase.
Taproot Witches recorded $380,100 in sales, a 227% increase from the previous day.
In contrast to the growth of Ordinals, major NFT collections on Ethereum and Solana, including CryptoPunks and Bored Ape Yacht Club, are struggling with minimal gains or declines.
Ordinal Maxi Biz, from artist Tony Tafuro, saw sales of $461,021, marking a 50% increase from the prior day.
Quantum Cats experienced a remarkable 262% surge, amassing $388,257 in sales.
The top five selling Bitcoin NFT collections in the past 24 hours include NodeMonkes, Bitcoin Puppets, Ordinal Maxi Biz, Quantum Cats, and Taproot Witches, each generating significant sales volumes.
The success of Ordinals contributes to a broader dynamism around Bitcoin, with the market for these NFTs valued at $759 million since their inception in early 2023.
Despite a struggling traditional NFT market, Ordinals collections are outperforming expectations, with some doubling in value over a few weeks.
Ordinals on the Bitcoin network are experiencing a resurgence, marking a significant shift in the digital asset ecosystem.
In the last 24 hours, trading sales volume for Bitcoin-based NFTs reached $4.2 million, reflecting a 42% increase from the previous day.
Summary based on 2 sources
Get a daily email with more Crypto stories
Sources
Cointribune • Sep 25, 2024
Bitcoin: The Ordinals Relaunch The NFT MarketInsideBitcoins.com • Sep 24, 2024
Bitcoin Roars Again In The NFT Market – Reclaims Market Dominance From Ethereum