Bitcoin Ordinals project NodeMonkes flipped Bored Ape Yacht Club earlier Monday with a market capitalization of 7,300 BTC, around $490 million, according to cross-chain NFT marketplace Magic Eden.
By comparison, Bored Ape Yacht Club’s market capitalization at the time was 136,500 ETH, or around $483 million, according to the NFT analytics site NFT Price Floor. The Ethereum-based Apes are back on top, as of this writing, but the collections remain close—there’s less than $30 million worth of crypto between their respective market caps, as of this writing. Launched in December, NodeMonkes is a collection of 10,000 8-bit monkey-themed digital collectibles.
The market cap for an NFT project is the floor price multiplied by the number of assets in the collection. February, NodeMonkes #2769 sold for 17 BTC, around $1.08 million at the time, on Magic Eden. The NodeMonkes floor shot up from 0.53 BTC to 0.83 BTC on Sunday over the span of just 12 hours, though it has calmed since to 0.67 BTC.
Bitcoin Ordinals projects have seen rising demand in recent months as the price of Bitcoin itself sets new all-time highs. Over the last week, Ordinals projects have racked up $135 million worth of trading volume, per data from CryptoSlam, while Ethereum NFTs have tallied $113 million in sales volume.
