Bitcoin Ordinals, Milady Maker interest surges as optimism seeps into select NFT projects

Prices and trading volumes for some non-fungible tokens are surging as Bitcoin's interest in challenging its all-time high injects optimism into other crypto- market sectors.

Yesterday, the trading volume of Bitcoin Ordinals hit over $51 million — levels not seen since December 2023. Transaction count and user metrics also reached similar highs.

The price of Bitcoin's premiere NFT, NodeMonkes, surged by roughly 25% to 0.875 BTC on Magic Eden with a 24-hour trading volume of nearly 282 BTC. The collection's sales have increased by more than 56%.

Bitcoin Puppets has seen similar increases, with the collection's floor price currently greater than a quarter of a bitcoin.

At the same time, NFT marketplace Magic Eden has cemented itself as the leading platform for Ordinals trading, accounting for nearly 77% of the volume.

Bitcoin ordinals are a way to store data, like images and text, directly on the Bitcoin blockchain. This allows for the creation of NFTs on the Bitcoin network, also known as Ordinal NFTs .

 

Milady Maker and adjacent NFTs see significant price increases

The surge in NFT prices has not been constrained to Bitcoin. Ethereum-based NFT project Milady Maker has seen a 24-hour sales increase of roughly 240%, with transactions increasing by 186%. The increased interest has lifted the collection's floor price to nearly 5 ether ($17,000) — a seven-day increase of more than 110%.

Milady-adjacent Redacted Remilio Babies' floor price has also increased to 1.47 ether on Blur — a one-day change of 40% and a seven-day increase of 117%.

Other blue-chip Ethereum NFTs have not performed so well over the past week, however. Pudgy Penguins floor price has declined by nearly 24% over the past seven days, while Azuki has dropped more than 17%.

Overall, NFT sales volume has increased by more than 35% over the past seven days.