- 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.
NodeMonkes have flipped BAYC after going from 0.54 to 0.78 BTC floor today.
You can’t fully see it, but figured I’d show the full chart.
NodeMonke floor: $52,600
BAYC floor: $48,780 pic.twitter.com/QNkAe5jUiV— NFTstats.eth (@punk9059) March 18, 2024
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.
Congrats, Achi!
On Nov. 17, 2018, Achi’s owners captured him in an endearing hat on camera.
On Mar. 18, 2024, that photo, Achi, dog wif hat, became our second highest auction, collected by @GiganticRebirth for 1,210.759 ETH ($4.3m USD). pic.twitter.com/KrAeQ5WMVm
— Foundation 🌐 (@foundation) March 18, 2024
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.
