In an unexpected turn of events, NodeMonkes, Bitcoin's flagship NFT collection, has seen its floor price skyrocket by over 50% within a mere 24 hours, now ranking it as the second-largest NFT collection, only trailing behind the iconic CryptoPunks in terms of market capitalization.

According to latest insights from CoinGecko, the collection’s floor price escalated to 0.83 BTC (approximately $55,890), propelling its market value to an astounding $558.9 million, and effectively surpassing the Bored Ape Yacht Club in the process.

This surge in NodeMonkes’ market cap is accompanied by a significant increase in sales volume, which soared by 162.0% to reach around $5.5 million in the same timeframe, as per CryptoSlam’s data. Such a notable rise in investor interest highlights the growing appeal of Bitcoin-based NFTs in a market traditionally dominated by Ethereum collections.

Notably, this trend is not exclusive to NodeMonkes; Runestone, another collection minted on Bitcoin, also experienced a substantial increase in its floor price, marking up by 125% in the last 24 hours and boosting its market cap to 4,799 BTC, or approximately $326,255,216.

Runestone, in particular, has taken a leading position in the NFT space, outperforming others in multi-chain support marketplaces like OKX and Magic Eden.

On these platforms, Runestone has generated impressive trading volumes, with Magic Eden reporting a volume of 198 BTC (about $13.4 million) and OKX seeing 268 BTC (approximately $18.2 million) since its launch. Such figures underscore the increasing liquidity and investor engagement within the Bitcoin NFT sector.

The Runestone collection, crafted by the esteemed NFT historian Leonidas and founder of Ord.io, has distinguished itself through an innovative distribution method. Unlike standard NFT drops, Runestone was made available through an airdrop to Ordinals holders, with the precondition of owning at least three inscriptions to qualify for an NFT.

This unique approach has not only democratized access to the collection but also fostered a vibrant community of collectors and enthusiasts eager to partake in the evolving narrative of Bitcoin-based NFTs.

As the market for NFTs continues to expand, the success of NodeMonkes and Runestone underscores the growing diversity and innovation within the sector.

With Bitcoin-based NFTs gaining traction, the landscape is set for further evolution, challenging existing paradigms and opening up new avenues for creators and collectors alike. As we observe these collections reach new heights, it's clear that the NFT market is far from reaching its zenith, with much more excitement and development on the horizon.