Bitcoin NFT Market Soars 42% as It Reclaims Dominance Over Ethereum

Today, the non-fungible token market has seen a notable uptick due to a robust recovery in Bitcoin Ordinals. Once the center of attention a few months ago, Bitcoin Ordinals had experienced a drastic decline, with trading sales volume plunging over 90% in the last three months. However, today marks a strong rebound for Bitcoin Ordinals, revitalizing investor confidence that NFTs might have a sustainable future.

Guys?? Why are Ordinals pumping?? pic.twitter.com/2Ehb2Z9HGu

— wale.moca (@waleswoosh) September 24, 2024

Welcome back Ordinals pic.twitter.com/oQsOxeSqEz

— Adam Hollander (@HollanderAdam) September 24, 2024

Bitcoin NFT Sales Surge 42% In The Last 24 Hours

Insights from CryptoSlam.io, a comprehensive multi-chain non-fungible token tracking and analytics platform supported by Mark Cuban, reveal a significant increase in sales volume for Bitcoin-based NFTs today. In just 24 hours, these NFTs, encompassing Runes, Ordinals, and BRC-20 tokens, registered a trading sales volume of $4.2 million, marking a 42% increase from the previous day.

Bitcoin NFT sales

Once the frontrunner in the NFT blockchain space, Bitcoin lost its market supremacy to Ethereum and Solana around April after the market excitement that had driven its performance wore off. Since then, Bitcoin NFTs have suffered significant declines, with some traders even declaring the ordinal ecosystem obsolete. However, today’s performance is challenging those previous assumptions.

Ethereum remains a close competitor to Bitcoin in NFT market presence, with a trading sales volume of $3.3 million in the past 24 hours. Solana and Polygon trail behind, recording volumes of $1.9 million and $1.4 million, respectively. Both Solana and Polygon-based NFT collections have seen impressive growth of 22.8% and 8.41%, respectively, within the last day. Below are the top five NFT collections on the Bitcoin network:

1. NodeMonkes NFT Collection

NodeMonkes, a collection of non-fungible tokens limited to 10,000 digital pieces, currently leads sales in the Bitcoin NFT space, gaining traction as the new leading collection, overtaking the once-popular CryptoPunks. The NodeMonkes NFT collection achieved a trading sales volume of $838,363 in the last 24 hours, although this represents a 21% decrease from the previous day.

Bitcoin-based NFTs

2. Bitcoin Puppets NFT Collection

The Bitcoin Puppets collection, consisting of 10,001 unique profile pictures (PFPs) hand-created in MS Paint by a 12-year-old, currently ranks second in sales among Bitcoin NFT collections. Over the past 24 hours, Bitcoin Puppets has achieved a trading sales volume of $754,058, reflecting a substantial 48% increase since yesterday.

3. Ordinal Maxi Biz NFT Collection

Ordinal Maxi Biz, a popular collection from NFT artist Tony Tafuro, includes 5,141 unique hand-drawn NFTs, each featuring distinctive eye colors based on their creation block. This collection is third in sales within the Bitcoin NFT market today, with a trading sales volume of $461,021 in the last 24 hours, up 50% from the previous day.

4. Quantum Cats NFT Collection

Quantum Cats, an ordinal collection from Taproot Wizard showcasing 3,333 cat-themed images minted using Ordinals Inscriptions, ranks fourth in sales among Bitcoin NFT collections. In the last 24 hours, the Quantum Cats collection reached a trading sales volume of $388,257, marking an impressive 262% increase from the day before.

5. Taproot Witches NFT Collection

Taproot Witches, a Bitcoin network NFT collection created by the same artist known for Quantum Cats, stands as the fifth best-selling NFT collection in the market. The collection garnered a trading sales volume of $380,100 in the last 24 hours, which is a striking 227% increase from the previous day.

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