In recent times, there has been a surge in the popularity of Ordinals, especially with Bitcoin’s price approaching an all-time high. One of the standout projects in this space is NodeMonkes, which has seen record-breaking sales and high demand in the secondary market. This article aims to delve into what Ordinals are and how NodeMonkes has managed to become a top-selling collection.
NodeMonkes currently holds the title of the top-selling individual Ordinal or NFT project, raking in over $45 million worth of secondary market sales in the past seven days. Surprisingly, in the last 24 hours, only Ethereum’s NFT project CryptoPunks has managed to surpass NodeMonkes in terms of sales volume. The recent sale of a single CryptoPunk for $16 million contributed significantly to this surge, but NodeMonkes is not far behind with approximately $11.7 million in sales during the same timeframe.
A milestone for NodeMonkes was the recent sale of the “Alien Hoodie” NodeMonke (#2769) for 17 Bitcoin, equivalent to $1.08 million at the time. This sale not only set a new record for NodeMonkes but also marked the second highest sale of Ordinals. Just last week, the second-ever Bitcoin Ordinal inscription was sold for $1.4 million worth of BTC, showcasing the growing interest and demand for these unique digital assets.
The Price Surge
The surge in NodeMonkes’ price can be attributed to the escalating demand for Bitcoin Ordinals, paralleling the rise in value experienced by the leading cryptocurrency. Initially priced at 0.18 BTC (around $9,300) at its launch two weeks ago, the current cheapest listed NodeMonke on Magic Eden stands at 0.82 BTC, equivalent to nearly $54,400. This exponential growth in value has attracted investors and collectors alike to the NodeMonkes project.
It’s not just NodeMonkes that has witnessed a surge in demand and sales. In the past week, the total sales volume for Ethereum NFTs and Bitcoin Ordinals has been almost equal, with Ethereum NFTs amounting to $177.4 million in sales and Ordinals generating $176.4 million. This trend can be directly linked to Bitcoin’s recent price surge, which soared above $67,000 on Monday morning, coming close to its all-time high of $69,044.
As Bitcoin continues to reign supreme in the market, it comes as no surprise that Ordinals, particularly NodeMonkes, are gaining momentum among NFT collectors and investors. With its impressive sales figures and growing demand, NodeMonkes has firmly established itself as the leading Bitcoin Ordinal collection in the digital asset space. Keeping a close eye on NodeMonkes and the Ordinal market could provide valuable insights into the evolving landscape of NFTs and cryptocurrency investments.