Pizza

Bitcoin

Eden

Magic Eden

<p>The recent resurgence of Ordinals on the Bitcoin network marks a turning point in the digital asset ecosystem. While the traditional NFT market struggles to regain its former dynamism, Ordinals collections are showing remarkable performance, defying current trends.</p>
<h2 id="h-a-spectacular-rebound-for-ordinals">A spectacular rebound for Ordinals</h2>
<p>After months of overshadowed by <a href="https://www.cointribune.com/en/runes-the-new-force-on-bitcoin-ordinals-and-brc-20-dethroned/" target="_blank" rel="noopener noreferrer nofollow">the excitement around Runes</a>, Ordinals are making a strong comeback. The major collections on the Magic Eden platform are recording substantial gains, with some even doubling their value in a few weeks.</p>
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<p>NodeMonkes, for example, saw its floor price shoot up to 0.2 BTC, or about $13,000, while other collections like Quantum Cats and Pizza Ninjas report increases of 10% and 18% respectively.</p>
<p>This <a href="https://thedefiant.io/news/markets/ordinals-defy-the-nft-market-and-enjoy-best-day-in-months" target="_blank" rel="noopener noreferrer nofollow">renewed interest in Ordinals</a> occurs in a context where the Runes protocol seemed to have taken the upper hand. On August 18, Runes accounted for up to 70% of transaction volume on the Bitcoin chain, temporarily relegating Ordinals to the background.</p>
<p>However, the trend is reversing today, demonstrating the resilience and enduring appeal of Ordinals among investors and collectors.</p>
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<h2 id="h-a-striking-contrast-with-the-nft-market">A striking contrast with the NFT market</h2>
<p>While the Ordinals experience significant growth, the <a href="https://www.cointribune.com/nba-collection-nft/" target="_blank" rel="noopener noreferrer nofollow">main NFT collections on Ethereum</a> and Solana are struggling to keep up. Giants like CryptoPunks and Bored Ape Yacht Club (BAYC) are showing only marginal gains, or even declines for some popular collections.</p>
<p>On Solana, despite some modest increases, enthusiasm remains moderate compared to the excitement observed on the Ordinals side.</p>
<p>The renewed success of Ordinals is part of a broader context of dynamism around Bitcoin. Since their creation in early 2023 by Casey Rodarmor, these NFTs have disrupted the ecosystem, giving rise to a market valued at $759 million according to CoinGecko.</p>
<p>Investors seem increasingly attracted to the innovations brought about by Bitcoin-based protocols.</p>
<p>The <a href="https://www.cointribune.com/en/bitcoin-ordinals-and-runes-boost-miners-revenues/" target="_blank" rel="noopener noreferrer nofollow">resurgence of Ordinals</a> against the traditional NFT market highlights not only the vitality of the Bitcoin ecosystem but also the rapid evolution of investor preferences in the field of digital assets.</p>
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Bitcoin: The Ordinals Relaunch The NFT Market

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