The market value of Bitcoin NFT node monkey NodeMonkes exceeds BAYC! Bored ape steps down from the altar?

The recent performance of the blue-chip NFT market is in stark contrast to the cryptocurrency market. The famous avatar NFT project "Bored Ape Series" also encountered an unfavorable situation. According to data from CoinGecko, the floor price of Bored Ape Yacht Club (BAYC) once again fell below 14 ETH. Compared with the historical high of 153.7 ETH set by the project in May 2022, this is a drop of more than 90%.

Today (18th), BAYC’s market value was surpassed by the Bitcoin NFT project NodeMonkes, relegating it to the third largest.

What are NodeMonkes?

NodeMonkes was launched in a Dutch-style public auction in December 2023, with the final sale price of each NFT being 0.03 BTC (approximately $1,260). However, their current floor price has soared to 0.79 BTC, an extremely astonishing increase.

NodeMonkes’ success can be attributed in part to the recent rapid growth in the Bitcoin NFT space (Ordinals), coupled with the approval of Bitcoin ETFs and increased interest in Bitcoin second-layer technology. These factors combine to This has contributed to the amazing growth of the project in a short period of time.

BAYC steps down from the altar?

The reason why the floor price of BAYC launched by Yuga Labs has fallen sharply is that, in addition to the continued downturn in the Ethereum NFT market, BAYC lacks a substantial growth strategy in the near future, the Otherside game is too complex, and the APE token has fallen sharply... etc. The reasons also reflect the market's re-evaluation of its price, which together constitute the complex and challenging situation BAYC is currently facing.

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