Bitcoinattracted attention again with its rapidly increasing transaction volumes at the end of last week. On the other hand, the demand for BTC-based NFTs has also increased rapidly recently.
The trading volume of the Bitcoin Ordinals trading market reached $51.14 million on March 3. This figure was the highest transaction volume recorded since December 18 of last year. In particular, Magic Eden, a leading trading platform, stood out with a trading volume of $39.29 million, accounting for a significant portion of this volume.
This increase in transaction volume was accompanied by an increase in the number of users trading on the Bitcoin Ordinals platform. According to data from Dune Analytics, these metrics have increased since December last year, indicating a revival and increased interest in the cryptocurrency market.
Introduced in January 2023, Bitcoin Ordinals offers users the opportunity to create NFT-like assets. Users can place files, such as images, into satoshis, which represent the smallest unit of Bitcoin.
Bitcoin NFT NodeMonkes Reached $56,500
There has been a significant increase in the price of Bitcoin NFT NodeMonkes in the last 24 hours, with its value increasing by over 25% to 0.89 BTC, equivalent to $56,500. This increase pushed NodeMonkes’ market value to $565 million, surpassing leading NFT projects such as Pudgy Penguins and MAYC.
This increase in price has caused Bitcoin NFT NodeMonkes to rise to third place in terms of market cap among NFTs, surpassing only CryptoPunks and BAYC. This success highlights the growing popularity and demand for NodeMonkes among investors and collectors seeking to capitalize on the booming digital asset market.
NodeMonkes consists of a series of 10,000 different pixelated profile picture (PFP)-style Ordinals that launched in December and is the first collection of 10,000 units in Bitcoin. While other 10,000-unit collections have been released before, the NodeMonkes team etched their collection onto the blockchain in February 2023, just a month after the launch of Ordinals.
