Runestone’s Mighty Impact on the Bitcoin Ordinals Ecosystem

Following the significant Runestone airdrop on March 14 — distributing 112,383 tokens to Bitcoin storage accounts in two days as freebies — the NFT project rapidly became the largest project ever to join the Bitcoin Ordinals ecosystem.

Yesterday, the NFT project surpassed the floor price of BAYC, reaching $4,677.54 (0.069 BTC), as announced by the creator, Leonidas, on X.

Within just two days of the airdrop’s release, Runestone ascended to the top of the Ordinals collections, becoming the third-largest NFT collection by market cap across all chains.

In less than three days, the Bitcoin project achieved a trading volume exceeding $33.88 million (500 BTC), making it the fastest Ordinals collection to do so.

Currently, fueled by subsequent trades on the Magic Eden Bitcoin Marketplace, the project boasts a remarkable market cap of $338.4 million (5,013 BTC), as per CoinGecko.

Over the past 24 hours, there has been a significant surge in transaction volume, reaching $245,226 (3.62 BTC) at the time of writing, marking a notable 30.5% increase.

Source: CoinGecko

Runestone’s Bold Experimentation

The Runestone NFT collection is making waves by airdropping $210 million worth of NFTs to Ordinals holders, requiring them to have at least three inscriptions to qualify.

Far from ordinary illustrations, Runestones hold historical significance, with an impressive file size of 3,967,899 bytes (or 3.967 MB) and a landmark inclusion in Bitcoin block 832,947.

Aiming to redefine the standard NFT framework, the collection moves away from traditional approaches such as farming, presales, and paid promotions.

Rather, it supports the adoption of open-source algorithms, community-driven projects, equitable airdrops, and rewards for initial supporters.

The Ordinals Effect

The impact of Runestone on the entirety of the Bitcoin Ordinals ecosystem is undeniable, with trading on Magic Eden BTC showcasing its influence.

For now, NodeMonkes trails behind Runestone with a striking floor price of $52,400 (0.77 BTC) per item, achieving a market cap of about $524.3 million (7,700 BTC) — a 45.2% increase over the past day.

Ordinal Maxi Biz (OMB) follows, drawing attention with its $32,700 (0.48 BTC) floor price and a market valuation close to $170.9 million (2,500 BTC). It has experienced a significant daily rise of 67.1%.

The Bitcoin Puppets collection, each item priced at $17,500 (0.257 BTC), now has a total market cap of about $175 million (2,600 BTC). In a single day, there was an uptick of 62.1%.

Finally, RSIC METAPROTOCOL offers an entry price of $5,200 (0.077 BTC) per item, reaching a market cap of $110.1 million (1,600 BTC), a recent upswing of 37.6%.

Runestone’s rapid ascent highlights its innovative impact and potential not only on the Bitcoin Ordinals landscape but also on the broader NFT world.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

The post Runestone’s Mighty Impact on the Bitcoin Ordinals Ecosystem appeared first on NFT Plazas.

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Runestone’s Mighty Impact on the Bitcoin Ordinals Ecosystem

Runestone’s Bold Experimentation

The Ordinals Effect

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