Exploring the Soaring Surge of Bitcoin NFTs: What’s Behind the Remarkable Rise in Trading Volume?

According to CryptoSlam data, the trading volume of Bitcoin’s on-chain NFT in the past 7 days reached $76,881,557, ranking first. Ethereum ranks second in the public chain, with an on-chain NFT trading volume of $63,821,910 in the past 7 days. Solana ranks third, with an on-chain NFT trading volume of $37,440,751 in the past 7 days. Not only the trading volume, but the prices of Bitcoin NFTs have also seen a general increase. With the strong support of the Runes protocol, the floor price of Runestone has risen to 0.065 BTC, equivalent to $4,505, with a 24-hour increase of 33.2%. This surge has led to a market value of $506 million for Runestone, surpassing the $411 million of BAYC, becoming the second largest project in the NFT market. The trading volume and prices of Runes concept NFTs are also on the rise. As of the time of writing, according to data from magiceden, four out of the top ten Bitcoin NFTs by trading volume, including Runestone, are Runes concept NFTs. Rune Pups has seen a 20% increase in the past 24 hours, RSIC has seen a 30% increase, and RuneX: UNNAMED has seen a 34% increase, according to calculations by BlockBeats. Not only the Runes concept NFTs, but according to the latest data from magiceden, the floor price of the abstract-themed NFT Blob, which was launched in the airdrop yesterday, has also skyrocketed to 0.03 BTC, with a trading volume second only to Runestone, ranking second in Bitcoin NFTs. More notably, the floor price of Bitcoin Puppets has risen to 0.41 BTC (approximately $28,495), reaching a historical high. What’s even more noteworthy is that the floor price of Bitcoin Puppets is about to surpass CryptoPunks, competing for the leading position in the NFT market.