Runestone’s Mighty Impact on the Bitcoin Ordinals Ecosystem

March 18, 2024

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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.