Bitcoin Non-Fungible Tokens (NFTs) Surge in Market Cap and Popularity
The market cap of the top 10 Bitcoin-based NFTs has reached $1.03 billion, with a daily trading volume of $2.25 million in May 2024. This growth signals their increasing importance in the Web3 ecosystem.
Market Leaders in the NFT Space
- NodeMonkes leads with a market cap of $198.25 million (2,880 BTC)
- Bitcoin Puppets follows with $144.12 million (1,815 BTC)
- Runestone holds a market cap of $87.85 million (1,124 BTC)
Significant Sales Volumes
- NodeMonkes and Bitcoin Puppets show average daily trading volumes of $0.52 million and $0.51 million respectively
Adoption Trends among Users
- Bitcoin Puppets saw a 15.3% growth in unique holders from Jan to May 2024
- NodeMonkes experienced a 10.1% growth in the same period
- Runestone has the highest number of unique holders, totaling 77 thousand in May 2024
Global Interest and Financial Gains
- Google searches for โOrdinalsโ surged by 58% in April 2024
- Buyer interest in Bitcoin NFTs reached an all-time high in March 2024
Financial Gains for Early Adopters
- NodeMonkes participants could see returns of 426% from the mint auction
- Runes introduce scalability and user experience improvements on the Bitcoin network
Exploring Ordinals and Runes
CoinGecko provides guides and listings for NFT projects on the Bitcoin network.
Methodology Used in Analysis
The research covered the top 10 Bitcoin-based NFT collections on CoinGecko as of May 26, 2024. Google Trends data was also analyzed up to May 31, 2024.
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