NFT Rotation Heats Up: Bitcoin NFTs Surge Following Ethereum NFT Rally

The NFT market is experiencing a renewed surge, with Bitcoin NFTs taking off in the wake of Ethereum-based collections' earlier gains. As of now, the total NFT market capitalization has risen by 7.1%, surpassing the $6 billion mark and reaching $6.75 billion.

Overall NFT marketcap. Source: CoinGecko

In the past 24 hours:

• Total NFT trading volume jumped 32.9% to $22.18 million.

• Ethereum NFT market cap rose 2.4% to $5.95 billion, with 24h volume up 29.7% to $16.96 million.

• Bitcoin NFT market cap soared 53.2% to $486.40 million, with trading volume skyrocketing 166.6% to $3.72 million.

• Solana NFT market cap climbed 16.7% to $288.90 million, with 24h volume up 44% to $1.34 million.

Ethereum and Bitcoin NFTs together accounted for roughly 90.9% of the total NFT trading volume in 24h:

• Ethereum NFTs: 72.5% of total volume

• Bitcoin NFTs: 18.2%

• Solana NFTs: 5.7%

• Other chains: 3.6%

Bitcoin NFTs Gain Ground: Rankings and Floor Prices

Bitcoin NFTs are making a notable mark in the current rankings, signaling a shift in market dynamics.

Bitcoin Shrooms' floor price has surged by more than 70% in the past 24 hours, reaching 1 BTC, placing it very close to CryptoPunks, which holds a floor of 49.99 ETH. The sharp rise reflects growing demand and investor interest in Bitcoin-native collectibles. Notably, both CryptoPunks and Bitcoin Shrooms are considered the OGs of the NFT space on Ethereum and Bitcoin, respectively, each symbolizing early and culturally significant assets on their respective chains.

Meanwhile, Taproot Wizards continues to benefit from the momentum, with a current floor price of 0.237 BTC, ranking among the top Bitcoin NFT collections.

Top Bitcoin NFT Collections by Volume

Based on the latest data from Magic Eden, NodeMonkes leads the Bitcoin NFT market in terms of 24-hour trading volume, recording 10.26 BTC with 138 sales, making it the most actively traded collection. Bitcoin Puppets follows in second place with 4.942 BTC in volume across 104 sales. Taproot Wizards ranks third, generating 4.388 BTC in volume from 20 sales.

While these collections lead in trading activity, Bitcoin Shrooms stands out in terms of valuation. It holds the highest floor price among the top 10 collections at 1 BTC, yet recorded only 4 sales in the past 24 hours. For the entire month of July, it has seen just 9 sales, with 3 of those NFTs purchased by the same wallet, which spent a total of 2.93 BTC. As the first Bitcoin Ordinal NFT collection, Bitcoin Shrooms comprises only 400 unique pieces, adding to its scarcity and positioning it as a premium collectible within the Bitcoin NFT ecosystem.

BRC-2.0 Narrative Fuels Pre-Mainnet Speculation

Additionally, the recent hype around Bitcoin NFTs is being driven by growing interest in BRC-2.0, the next evolution of the BRC-20 standard. The BRC-2.0 mainnet is set to launch at Bitcoin block 909,969, with an estimated date of August 14, 2025.

Commenting on the trend, @CG_BRC20 pointed out that many current assets are riding the BRC-2.0 narrative, launching collections for trading ahead of the official mainnet release. Once live, project teams plan to airdrop or map tokens to current holders, effectively creating a form of pre-market speculation on the future value of BRC-2.0 assets.

The first concept asset tied to BRC-2.0, Adderrels, continues to hit new highs. It is trading at The project recently announced a partnership with 100 Layer to launch the first stablecoin on BRC-2.0. In their announcement, Adderrels emphasized, “BRC-2.0 is set to be a lot of fun, and this is just the beginning of our rewards for everyone who has locked their Adderrels.”

Community Watch: Taproot Wizards Under Scrutiny

Udi Wertheimer, co-founder of Taproot Wizards, has remained openly bullish on Ordinals while frequently mocking and casting doubt on Runes. In recent posts on X, he sarcastically referred to “Rune June,” implying the protocol's ongoing underperformance. Although both Ordinals and Runes are Bitcoin-native and part of the broader Bitcoin NFT ecosystem, they have sparked divided opinions within the community. Udi’s stance underscores the growing ideological divide and rivalry between the two protocols.

At the same time, Taproot Wizards has drawn attention for unusual trading activity. Crypto user @eknom9421 flagged a sudden spike in volume to 10 BTC, far exceeding the broader Ordinals market’s 1 BTC and even surpassing top Runes collections at 5 BTC. He raised concerns about potential manipulation, noting that Taproot Wizards typically sees little to no trading volume, and questioned the transparency of its previous whitelist sales, fueling suspicions of insider control.

Looking Ahead

With Bitcoin NFTs gaining traction and the BRC-2.0 mainnet launch on the horizon, the market is entering a phase of heightened activity and attention. While it is still early to determine the long-term impact, the current trends suggest a growing interest in Bitcoin-native digital assets as part of the broader NFT market rotation. That said, the current NFT market capitalization remains well below its recent peak of approximately $10 billion, reached in December 2024, highlighting that there is still considerable ground to recover.