Bitcoin-based collections have an edge over Ethereum NFTs

market has been known for its ebbs and flows through its brief history, with exciting projects popping up at different stages to pique the interest of enthusiasts.data, its floor price surged by over 50% in the last 24 hours, propelling it to become the second-largest NFT collection at press time.A floor price is the lowest price that an NFT can be sold for. In recent years, it has become the gold standard for evaluating the growth of a collection. The higher the floor price, the better.

As of this writing, NodeMonkes’ floor price was 0.82 BTC, worth over $55k, placed just below the blue-chip powerhouse, The Bitcoin-based collection also logged the second-highest sales volume in the last 24 hours, totaling over $4 million. This represented a jump of 106%.Note that this sale came alongside a sharp uptick in Bitcoin’s price, which likely contributed to the USD figure.But NodeMonkes wasn’t the only Ordinals-based collection making waves in the market.

Runestone, a project led by Ordinals developer Leonidas, saw a 40% spike in its floor price in the last 24 hours to top 0.04 BTC.However, the introduction of Ordinals has altered the dynamics significantly, causing Bitcoin to become the most-favored network for NFT transactions.Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains.

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