Bitcoin Roars Again In The NFT Market – Reclaims Market Dominance From Ethereum

Updated: 24 September 2024

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

The non-fungible token market has recorded positive growth today following a strong comeback of Bitcoin Ordinals in the market. Bitcoin ordinals, which used to be the talk of the town several months ago, have been tanking in trading sales volume, flipping more than 90% in the past three months. Today, Bitcoin Ordinals have made a strong resurgence, giving investors some hope that NFTs are here to stay.

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 Pump 42% In The Past 24 Hours

Data compiled by CryptoSlam.io, a multi-chain non-fungible token explorer and analytic hub backed by Mark Cuban, indicates that Bitcoin-based NFTs have significantly surged in trading sales volume today. In the past 24 hours, Bitcoin-based NFTs, which include Runes, Ordinals, and BRC-20 NFTs, have recorded a trading sales volume of $4.2 million, representing a 42% rise from the past day.

Bitcoin, which used to be the leading NFT blockchain network, lost its market dominance to Ethereum and Solana sometime in April after the market hype that led to its resurgence faded. Since then, Bitcoin NFTs have remained down more than 90%, with some crypto traders even pronouncing the ordinal ecosystem as dead already. Today, Bitcoin has turned these sentiments upside down.

During this time, Ethereum has closely followed Bitcoin in the NFT market dominance, with a trading sales volume of $3.3 million in the past 24 hours. Solana and Polygon are distantly following Bitcoin and Ethereum in ranking, with a trading sales volume of $1.9 million and $1.4 million. In the past 24 hours, Solana and Polygon-based NFT collections have surged 22.8% and 8.41%, respectively. Below, we have listed five top-selling NFT collections on the Bitcoin network:

1. NodeMonkes NFT Collection

NodeMonkes, a non-fungible token collection that features a limited set of 10,000 digital items, is the most-selling ordinal collection on the Bitcoin NFT ecosystem, recapturing the mantle of the CryptoPunks, which has been the talk of the streets in the past several weeks. In the past 24 hours, the NodeMonkes NFT collection has raised a sales volume of $838,363. During this time, the NodeMonkes NFT sales volume has plunged by 21% from the previous day.

2. Bitcoin Puppets NFT Collection

Bitcoin Puppets, an ordinal collection featuring a limited supply of 10,001 unique PFPs (profile pictures) hand-drawn in MS Paint by a 12-year-old, is the second most-selling ordinal collection in the Bitcoin NFT market today. In the past 24 hours, the Bitcoin Puppets NFT collection has amassed a trading sales volume of $754,058, surged by 48% from the previous day.

3. Ordinal Maxi Biz NFT Collection

Ordinal Maxi Biz, a renowned Ordinal collection from NFT artist Tony Tafuro, consisting of a fixed supply of 5,141 unique, hand-drawn NFTs, each featuring distinctive eye color traits based on the specific block they were created, is today’s third most-selling NFT collection in the Bitcoin NFT market. In the past 24 hours, the Ordinal Maxi Biz NFT has amassed a trading sales volume of $461,021, up 50% from the past day.

4. Quantum Cats NFT Collection

Quantum Cats, an ordinal collection from the digital asset Taproot Wizard featuring a limited set of 3,333 cat images minted using Ordinals Inscriptions, is today’s fourth most-selling ordinals collection in the Bitcoin NFT market. In the past 24 hours, the Quantum Cats NFT collection has attracted a trading sales volume of $388,257. During this time, Quantum Cats NFT trading sales have surged by 262% from the past day.

5. Taproot Witches NFT Collection

Taproot Witches, a non-fungible token collection project on the Bitcoin network, created by a renowned artist known for the Quantum Cats collection, is today’s fifth most-selling NFT collection in the Bitcoin NFT market. In the past 24 hours, the Taproot Witches NFT series has recorded a trading sales volume of $380,100, up 227% from the past day.