NodeMonkes, a collection of Bitcoin Ordinals, saw its trading volume increase by 160% in the last week, underscoring the importance of Ordinals in the NFT market. All this happens amid a historic rally for Bitcoin. The most significant cryptocurrency in the market has been moving for a couple of days in a price range from $68,000 to $66,856, which is the current price at this hour.
An example of the success of Ordinals is NodeMonkes. Its creators claim it to be the first collection of 10,000 digital pieces denominated in Bitcoin. The collection, launched in December 2023, positions NodeMonkes as the leading project based on Bitcoin Ordinals and in the entire NFT market in terms of commercialization.
According to data from CryptoSlam!, NodeMonkes accumulated over $45.1 million in sales during the last week. This figure surpasses the weekly trading volume of significant NFT collections on Ethereum, such as CryptoPunks ($25.7 million), Pudgy Penguins ($8.4 million), or Bored Ape Yacht Club ($6 million). The trading volume of NodeMonkes only trails behind untagged Ordinals. That is, those not linked to any particular collection.
NodeMonkes sold the Monke #2769 for 17 bitcoins on the Magic Eden market, more than a million dollars at the time of negotiation. This sale represents the most expensive sale of the collection and one of the most expensive Ordinals sold to date.
The Magic Eden platform has capitalized on the success of Ordinals and boasts figures: in February, Ordinals saw a 64% increase in volume, a 59% increase in total transactions, and a 46% increase in total users.
In the traditional market, the art auction house, Sotheby’s, is leveraging the popularity of Bitcoin NFTs with significant successes. It recently auctioned off a piece from the collection for over $100,000: Bitcoin Ordinals: Sat Hunting, which pays homage to rare satoshis (sats). This piece, Pizza Ninja 1, is one of the 201 rare satoshis linked to the 10,000 Bitcoin transaction made during Bitcoin Pizza Day.
Sotheby’s first auctioned Ordinals in December 2023. In January, it conducted a second sale of a collection consisting of 19 Ordinals.