NodeMonkes NFTs Eclipse Bored Ape Market Cap

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  • The market capitalization of NodeMonkes NFTs temporarily surpassed that of the Bored Ape collection by roughly $3 million
  • The win was however short-lived since Bored Ape has regained the lead
  • The rise and fall of NodeMonkes’ lead is due to the hype around the collection and Bitcoin shedding roughly 5% in the last 24 hours

Bitcoin NFT collection NodeMonkes’ market cap temporarily eclipsed that of Ethereum-based Bored Ape collection by around $3 million. NodeMonkes’ market cap reached a high of 7,300 BTC valued at slightly above $500 million while Yuga’s Bored Ape managed a market cap of $497 million (136,500 ETH). NodeModes’ market cap rise was supported by ongoing hype around the collection and a rising BTC price, all of which started cooling down, explaining the sudden drop in market capitalization.

A $28 Million Difference

Bore Ape has however reclaimed its lead with a market cap of $455 million with NodeMonkes trailing with $427 million. 

Apart from the hype around the Bitcoin-based collection, rising BTC prices have helped catapult NodeMonkes to the top, with a collectible in the collection recently changing hands at over $1 million.

According to NFT data aggregator CryptoSlam, Bitcoin Ordinals have been in the lead in the last one week recording close to $135 million in sales against Ethereum’s $108 million. In the 24-hour scene, however, Ethereum surpasses Bitcoin in NFT sales by a margin of exactly $1 million. 

Dogwifhat NFT Fetches Over $4 million 

The difference is largely attributed to rising Bitcoin prices and increased interest for some Bitcoin NFTs like Runestone.

Bitcoin Ordinals inscriptions featuring an avocado and a honey badger fetched $100,000 and $450,000, respectively in December last year. The NFT hype on Ethereum is also coming back with meme-inspired Dogwifhat Ethereum NFT selling for over $4 million on March 18.

Although the Bored Ape collection has managed to reclaim the lead, NodeMonkes will likely flip it again if BTC’s price recovers from the recent drop.