Bitcoin has surpassed Ethereum in the race for non-fungible tokens (NFT), a development that testifies to the evolution of the market, and more specifically to the interest in certain ordinals. This shift is notably attributed to the success of NodeMonkes, a collection of non-fungible tokens (NFT) representing pixelated monkeys launched on Bitcoin last December.
Bitcoin overtakes Ethereum in the NFT race
While it seemed unimaginable just over 2 years ago, the reality is here: Bitcoin has overtaken the Ethereum blockchain in terms of volumes traded on non-fungible tokens (NFT).
This paradigm shift can be attributed to the success of NodeMonkes, the pixelated monkey NFTs launched as ordinals on Bitcoin last December. According to CryptoSlam data, 191 sales took place in the last 24 hours, for over $11.2 million.
Launched in January 2023, the Ordinals protocol enables data to be immutably inscribed on the Bitcoin blockchain: inscriptions. These can be text files, audio clips, even mini-games, but also, of course, images, now called NFT for simplicity’s sake. To find out more on this subject, we invite you to read our Infosheet dedicated to the Ordinals protocol.
The floor price of NodeMonkes is currently 0.81 BTC, or around $53,900 at the current Bitcoin rate. Although most of these 2-month-old NFTs are trading below the symbolic threshold of 1 Bitcoin, some stand out from the crowd, notably NodeMonke 2769, which traded for 17 BTC this morning on the Magic Eden platform, or around $1.08 million at the time.
Thus, in the afternoon, the total volume of ordinals traded on Bitcoin surpassed Ethereum, with $34.2 million. On Ethereum, this volume was equivalent to $24.3 million, or $10 million less. However, Ethereum came back into the spotlight following the sale of CryptoPunk 5822.
Recap of the most expensive CryptoPunks sold in history
Although they have achieved lower sales volumes, other NFT collections on Bitcoin are enjoying great success, such as Ordinal Maxi Biz (OMB), with a floor price of $75,500, or Quantum Cats, which are approaching $2 million in volume over the last 24 hours.
