NFTs
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ROUNDUP NFT
Ordinals up, ETH NFTs down
This week, bluechip ETH NFTs struggled – with punks seeing their first sale in the 20s (ETH) in almost three years. Meanwhile, Bitcoin-based Ordinals and Runes have grown in popularity.
The total market capitalization of the top 10 Bitcoin-based NFTs, including Ordinals and Runes, rose to $1.03 billion following an average daily trading volume of US$2.25 million in May.
Popular collections like NodeMonkes, Bitcoin Puppets, and Runestones are up 5%, 8%, and 15%, respectively. Additionally, popular runes such as PUPS, a Rune memecoin inspired by Bitcoin Puppets, and WZRD, a Rune token based on Taproot Wizards, are also trending. ~25% It is ~40%.
Despite lagging behind Ethereum and other networks in sales volume, Bitcoin NFTs have continued to gain global interest. An increase in Google searches, a common metric for measuring sentiment, for “Ordinals” and “Bitcoin NFTs” suggests that they still have strong future growth potential, something that could be further accelerated by OP_CAT update if the proposal is approved.
This serves as a good lesson: whenever Crypto Twitter deems something dead and buried, it’s probably not a bad time to buy.
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