30/09/2024 NodeMonkes, Bitcoin Puppets lead as NFT sales rebound

NodeMonkes, Bitcoin Puppets lead as NFT sales rebound

The volume of non-fungible tokens in the Bitcoin network bounced back last week as the industry stabilized.

Bitcoin NFT sales rose

According toCryptoSlam, sales of Bitcoin (BTC) NFTs jumped by 56% in the last seven days to over $20 million. The number of buyers in the network rose by 48% to 29,403.

NodeMonkes, a relatively new collection, was the best-performingNFTin the ecosystem with over $3.4 million in sales and 302 transactions. Only Immutable X’s Guild of Guardian Heroes collection had more sales during the week.

Bitcoin Puppets had a sales volume of $3.03 million. That’s a 239% increase from the previous week.

Ordinal Maxi Biz, whose sales rose to over $1.89 million, followed. Taproot Witches, meanwhile, sold $1.3 million.

Ethereum, Solana

EthereumEthereumeth-0.69%Ethereumremained the most active network for NFT, handling sales worth $28 million. SolanaSolanasol-0.26%Solanahad $13 million in sales while BNB Chain had $3.7 million.

September has been another bad month for NFTs as total sales dropped by 48% to $318 million. Ethereum, Bitcoin, and Solana’s sales were $108 million, $63 million, and $61 million, respectively.

Bitcoin bounces back

The weekly NFT sales rose as the prices of most cryptocurrencies bounced back. Bitcoin rose to $66,000 for the first time since July while the total market cap of all coins jumped to $2.3 trillion.

Most importantly, the closely watched crypto fear and greed index rose to the greed zone of 60 for the first time in two months. Historically, traders move to riskier assets like stocks and cryptocurrencies when there is greed in the market — recently due tothe Federal Reserve‘s cutting of interest rates, China’s stimulus, and the ongoing drop in stablecoin holdings among smart money investors.

As shown below, the volume of stablecoin holdings among these investors has dropped to the lowest point in two years.

Stablecoin holdingsStablecoin holdings by smart money | Source:Nansen

The Nansen chart also shows that these holdings — after surging in 2022 as the FTX and Terra ecosystem collapsed — have been trending down since then.Smart money investors likely reduced their stablecoin holdings and shifted to cryptocurrencies and NFTs.

The key risk investors face with NFTs is that the industry has become highly saturated, with thousands of new collections. A recentreportreveals that 96% of more than 5,000 existing NFT collections are “dead.”

In other words, they have zero trading volume, no sales for more than seven days, and no activity on social networks.

Arts

https://crypto.news/nodemonkes-bitcoin-puppets-lead-as-nft-sales-rebound/

Interesting NFTs
Alex in Wonderland
A figure, Alex, stands mostly naked in the midst of a physical and psychological maelstrom. He is clad only in nostalgic 80’s era socks, on a tenuous island between active waters and a variety of shark denizens. Sharks on the right side of the image are all beached, including a shark with a quartz crystal snout, an orange shark wrapped in a life buoy, and a shark further in the distance wearing an 80’s style shirt with the number “88”. On the left side is the largest shark, wearing bright glossy red lipstick and brandishing prominent teeth with braces. She is cordoned off from the figure by a roped float divider, and within her thought bubble is a warning symbol. Behind the figure, hovering in the air, are Grey aliens emerging from the distance, out of a series of elliptical UFO shaped interdimensional membranes. The Greys take on the visual form of spermazoa ostensibly impregnating the interdimensional thresholds. As is typical, these Greys inhabit a zone just behind the unconscious topology of Alex’s dissociative mind. Though Alex’s bottom half is representative, his top half mutates into a psychological cornucopia. In a manner akin to “Auto-Erotic Sphinx”, a predecessor work, the figure has self suctioned—an act of sensual infatuation, enjoyment, and exploration. Upward exists the figure’s primary conscious eye, adorned with a revolutionary beret emblazoned with a Bitcoin badge. The figure’s summit features the nose of a fighter jet facing off against video game Bullet Bills, one of whom is marked by a communist North Korean star. A cropped section of a UFO observes the contest. Alex’s mind branches both left and right. To the left is more singular embodied consciousness, manifesting two eyes and a Ganesh trunk grasping crayons. The right branch dissociates upward diagonally, emerging into an array of eyes, faces, teeth, tail, a unicorn horn, and much more—all of which participate in expressing his unconscious being; a democracy of psychic factions representing thought impressions and associations. All illumination and darkness– fernal, infernal, high consciousness and corporeal underbelly–reside in this realm. In the distance are relatively languid, light clouds, and against the firmament hovers a colossal distant eye peering over the scene and far beyond. This painting possesses underlying genetic traits with previous works such as “Auto-Erotic Sphinx with Toys”, “Dionysus”, and “Fuku-Shiva”. The work serves also as a nod to an earlier period of art inspiration during late teens and early twenties— born out of the nakedness, vulnerability, curiosity, and wonder inherent to coming of age and all subsequent psychedelic revelation.
Metarift
∾ 2160 x 2160 px, Video (46.5 MB)
CryptoKitties
Sup playa! I'm Kitty #371993. I want to live in a world where people believe that one day cats will rule this planet. I once snuggled a labradoodle. I don't like to talk about it. I can't wait to wake you up at 4am for seemingly no reason.
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By OthersideDeployer
Nyan Cat
Nyan Cat is the name of an animation uploaded on April 2 2011, and became a viral internet sensation. The design of Nyan Cat was inspired by my cat Marty, who crossed the Rainbow Bridge but lives on in spirit. I am the original artist behind the iconic GIF and have remastered the image for its 10 year anniversary. Owning this piece grants the following stats: Charisma +10 Luck +10 Happiness +15 ________________ 1400x1400 - 12 Frames