The Node Monkey collection, more popularly known as Ape NFTs, were the first major collection to start this upward trend. In the course of a day, the floor price of Node Monkey NFTs increased more than 60%, significantly exceeding the overall market.
Node Monkeys NFTs cover an emerging category of digital collectible. As of July 28, the floor price for a Node Monkey NFT reached 0.08 BTC. The collection had a robust 24-hour trading volume of 10.29 BTC. At today’s Bitcoin prices, this equals about $180,000.
Several other Bitcoin NFT projects enjoyed significant growth as well. Bitcoin Puppets saw the biggest change, with a floor price increase of 38.9%, up to 0.054 BTC. Taproot Wizards was up 12.8% to 0.237 BTC, and OMB (Ordinals Memes) was up 43.3% to 0.032 BTC.
The increase in Node Monkey’s price was first shared by BlockBeats, with NFT market data retrieved from Magic Eden. We were beyond pleased that our collection crushed the competition. It was particularly notable given the NFT market where Ethereum NFT activity leads the way in total volume.
Even with these recent improvements, the Bitcoin NFT market is still incredibly experimental. It is marked by extreme volatility and lack of applicability for the vast majority of projects.
"The trading volume of Bitcoin ecosystem NFTs is still relatively small, with high price volatility, so users should invest cautiously" - BlockBeats News
The Node Monkey collection’s explosive price appreciation and trading activity underscore the expanding market interest and speculation in Bitcoin-based digital assets. Despite positive trends, market observers are calling for caution given the market volatility and inherent hazards tied to this nascent industry.
