There has been a remarkable shift in the NFT space, with NodeMonkes, a premier Bitcoin NFT collection, experiencing a surge of over 50% in the past 24 hours. This surge has propelled NodeMonkes to surpass the renowned Bored Ape Yacht Club in terms of market capitalization. According to data from CoinGecko, NodeMonkes saw a significant 53.3% increase in its floor price, becoming the second-largest NFT collection based on market cap.
In addition to the rise of NodeMonkes, another Bitcoin-based NFT collection called Runestone has also witnessed a surge in its floor price. This surge amounted to a remarkable 125% increase within the last 24 hours, boosting its market capitalization to 4,799 BTC, equivalent to $326,255,216. As a result of this upsurge, Runestone has now secured its position as the sixth-largest NFT collection by market capitalization.
One interesting aspect of the current NFT landscape is the dominance of certain collections across various multi-chain support marketplaces. Runestone, in particular, has emerged as the leading NFT collection in platforms like OKX and Magic Eden. With a trading volume of 198 BTC on Magic Eden and 268 BTC on OKX, amounting to approximately $13.4 million and $18.2 million respectively, Runestone has solidified its position as a market leader.
Unlike traditional NFT launches, Runestone implemented a unique distribution strategy by conducting an airdrop to Ordinals holders. In order to qualify for an NFT, participants needed to own at least three inscriptions. This unconventional approach has contributed to the widespread ownership of Runestone NFTs, with 90,000 owners according to data from Magic Eden.
The recent surges in NodeMonkes and Runestone, along with their market dominance and unique distribution strategies, exemplify the dynamic and rapidly evolving nature of the NFT space. As collectors and enthusiasts continue to explore new opportunities and innovations in the NFT market, it is clear that this sector holds immense potential for growth and creativity.