{"id":12395,"date":"2023-11-10T23:25:45","date_gmt":"2023-11-10T23:25:45","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/six-figure-prices-for-bitcoin-rock-ordinals-and-etherrock-nfts-reignite-hopes-for-return-of-nft-mania\/"},"modified":"2023-11-10T23:25:48","modified_gmt":"2023-11-10T23:25:48","slug":"six-figure-prices-for-bitcoin-rock-ordinals-and-etherrock-nfts-reignite-hopes-for-return-of-nft-mania","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=12395","title":{"rendered":"Six-Figure Prices for Bitcoin Rock Ordinals and EtherRock NFTs Reignite Hopes for Return of NFT Mania"},"content":{"rendered":"<div>\n<figure id=\"attachment_130084\" aria-describedby=\"caption-attachment-130084\" style=\"width: 2560px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-130084\" class=\"wp-caption-text\">$100k+ Sales of EtherRock NFTs and Bitcoin Rock Ordinals Stoke Speculation of an NFT Revival. <em>Image by Garrett, Adobe Stock.<\/em><\/figcaption><\/figure>\n<p>Nonfungible tokens (NFTs) are back in the spotlight this week after separate high-profile sales of EtherRock NFTs and Bitcoin Rock Ordinals for over $100,000 each.<\/p>\n<p>The sales come amid a resurgent cryptocurrency market, with Bitcoin rallying past $37,000 for the first time since May 2022 and Ethereum surging above $2,100 on renewed optimism.<\/p>\n<p>With crypto prices rallying, the mood among cryptocurrency investors has shifted to guarded hope that the market may have put in a definitive low.<\/p>\n<h2><strong>NFTs Back in the Limelight with Major EtherRock Sale<\/strong><\/h2>\n<p><span class=\"replacer\"><\/span><br \/>The hugely popular EtherRock collection consists of 100 indistinguishable grey boulder NFTs on the Ethereum blockchain.<\/p>\n<p>EtherRock #95 from the popular EtherRock NFT collection sold for 100 ETH earlier today, valued at around $209,000 at the time, while a Bitcoin Rock Ordinal NFT from a comparable collection was also sold for 2.99 BTC, worth over $111,000.<\/p>\n<p>The Bitcoin Rock Ordinals are a set of similar rock images inscribed on the Bitcoin blockchain.<\/p>\n<p>While neither collection comes with any special benefits or utilities beyond the NFTs themselves, these seemingly basic images of rocks have accrued tremendous speculative value.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Should we tell him? https:\/\/t.co\/oLF2UsZ6FV <a rel=\"nofollow\" href=\"https:\/\/t.co\/x7CGTuLFqD\">pic.twitter.com\/x7CGTuLFqD<\/a><\/p>\n<p>\u2014 BITCOIN ROCKS \u25c9 (@ordrocks) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/ordrocks\/status\/1722866744467816938?ref_src=twsrc%5Etfw\">November 10, 2023<\/a><\/p>\n<\/blockquote>\n<p>Social media reaction to the sales appears divided. Some see it as a welcome return to the \u201cfrothy frenzy\u201d of last year\u2019s peak market, while others consider it reminiscent of the overexuberance and \u201cabsurdity\u201d that eventually led to the crypto crash.<\/p>\n<p>NFT trading volume hit a 6-month high this week but still pales in comparison to the manic activity of Spring 2022 before the decline.<\/p>\n<p>Though these rock sales have crypto circles wondering if the good times are returning, metrics indicate it is likely still too early to declare a new bull run.<\/p>\n<h2><strong>EtherRock Frenzy Recalls the 2021 NFT Bull Run<\/strong><\/h2>\n<p><span class=\"replacer\"><\/span><br \/>The major sale of EtherRock #95 for over $200,000 this week is reminiscent of the massive 2021 NFT bull run.<\/p>\n<p>At the peak last November, one EtherRock sold for $1.3 million as buyers scrambled to get in on the hype surrounding these digital rocks.<\/p>\n<p>The creator, who goes by \u201cNakamoto\u201d, said EtherRocks was meant to showcase how the value of art is an illusion. \u201cFate loves irony,\u201d they said about the irrational exuberance.<\/p>\n<p>In January 2022, the Bitcoin Rock Ordinals were launched as an intentional imitation of EtherRocks, inscribing near-identical rock images onto Bitcoin\u2019s blockchain through the process of \u201cburning\u201d satoshis.<\/p>\n<p>Though not as popular initially, these Ordinals have also racked up big sales in recent months.<\/p>\n<p>The EtherRock phenomenon especially highlights how hype and speculation drive crypto markets, with owners of rare NFTs able to find willing buyers during frenzied times.<\/p>\n<p>Of course, markets can change direction quickly. For now, it\u2019s a waiting game as to whether the crypto space is truly ready to return to its former fervent interest in digital collectibles and artwork.<\/p>\n<p>If more five and six-figure sales start happening, however, it may be a sign that NFT mania is positioned for a dramatic comeback.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/six-figure-prices-for-bitcoin-rock-ordinals-and-etherrock-nfts-reignite-hopes-for-return-of-nft-mania.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$100k+ Sales of EtherRock NFTs and Bitcoin Rock Ordinals Stoke Speculation of an NFT Revival. Image by Garrett, Adobe Stock. Nonfungible tokens&#8230;<\/p>\n","protected":false},"author":1,"featured_media":12396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-12395","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Six-Figure Prices for Bitcoin Rock Ordinals and EtherRock NFTs Reignite Hopes for Return of NFT Mania | inFundPros<\/title>\n<meta name=\"description\" content=\"$100k+ Sales of EtherRock NFTs and Bitcoin Rock Ordinals Stoke Speculation of an NFT Revival. Image by Garrett, Adobe Stock. 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