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CDS Crypto News PUPS, the Bitcoin Meme Coin, Skyrockets to Record Levels as NFT Craze Peaks Pre-Halving

Crypto News

PUPS, the Bitcoin Meme Coin, Skyrockets to Record Levels as NFT Craze Peaks Pre-Halving

PUPS, a meme coin project leveraging the Bitcoin blockchain, has witnessed an astonishing surge in value. Over the past seven days, its price has surged by an impressive 1,075%.

Ecem EFE11/04/20241 Mins read37

PUPS, the Bitcoin Meme Coin, Skyrockets to Record Levels as NFT Craze Peaks Pre-Halving

Crypto News- The PUPS phenomenon is reaching unprecedented heights as its BRC-20 NFT collection experiences an explosive surge. Over the last seven days alone, sales have soared by an astonishing 6,948%, reflecting an immense level of interest and activity.

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PUPS, the Bitcoin Meme Coin, Skyrockets to Record Levels as NFT Craze Peaks Pre-Halving

In a remarkable turn of events, PUPS BRC-20 NFTs have clinched the second spot in sales volume, raking in an impressive $18.4 million from 3,232 transactions involving 1,161 buyers. This surge has outpaced even established collections like NodeMonkes, which saw a 108.61% increase but fell short with $11.72 million in sales.

What’s truly intriguing is the floor price for PUPS NFTs, which currently stands at a staggering 61,799 sats. This translates to approximately 0.46 BTC or $32,655, underscoring the fervor surrounding these digital assets.

But PUPS isn’t just competing with typical NFT collections. It’s nipping at the heels of the enigmatic “Uncategorized Ordinals” group, which amassed a jaw-dropping $48.15 million in sales. This category encompasses miscellaneous digital assets on the Bitcoin blockchain, hinting at the diverse and eclectic nature of the crypto landscape.

Bitcoin’s NFT Surge: Rising Above Ethereum and Solana’s Dominance

The success of PUPS mirrors a broader trend in the Bitcoin ecosystem. NFT sales volume on the Bitcoin blockchain has outpaced Ethereum and Solana over the past week, defying conventional wisdom. Despite Ethereum and Solana’s established reputation in the NFT space, Bitcoin has emerged as a formidable contender.

This surge in activity coincides with the imminent launch of Runes, a new fungible token standard on the Bitcoin blockchain developed by Casey Rodarmor, the mind behind Ordinals. Runes are set to debut on Bitcoin’s mainnet following the highly anticipated Bitcoin halving, promising to inject fresh excitement into the ecosystem.

Franklin Templeton Report: Unveiling the Evolution of Bitcoin Through Ordinals and New Standards

Franklin Templeton, a prominent asset manager, has highlighted this resurgence in Bitcoin development driven by Ordinals, new token standards like BRC-20 and Runes, Layer 2 solutions, and DeFi applications. Their recent report titled “The Rise of Bitcoin Ordinals” underscores the growing significance of these innovations in shaping the future of Bitcoin.

With PUPS leading the charge in NFT sales and the imminent arrival of Runes, the Bitcoin ecosystem is poised for even greater growth and innovation in the days to come.