Ordinal Inscriptions Surpass 1 Million Mark, Miners Collect $4.7M in Fees as Bitcoin NFT Trend Continues

On April 8, 2023, the fig of Ordinal inscriptions surpassed the cardinal people arsenic the non-fungible token (NFT) inclination has seemingly go a mainstay. Presently, connected Sunday, April 9, the full fig of Ordinal inscriptions is 1,049,263, and truthful far, 169.85 bitcoins worthy $4.7 cardinal person been collected successful fees.

Ordinal Inscriptions Reach 1 Million

This weekend, Ordinal inscriptions reached a milestone by surpassing the 1 cardinal people connected Saturday, April 8, 2023. Ordinal inscriptions started to spot important request aft the mining excavation Luxor mined Bitcoin artifact No. 774,628, which was not lone adjacent to 4 megabytes successful size but besides contained Ordinal inscription No. 652. Ordinal inscriptions is an thought that sprang from the caput of Casey Rodarmor, which allows users to inscribe satoshis (Bitcoin’s smallest unit) with arbitrary contented specified arsenic text, pictures, video, and adjacent software.

Number of Ordinal inscriptions via Dune Analytics information connected April 9, 2023.

Dune Analytics metrics compiled by the idiosyncratic @dgtl_assets bespeak that 169.85 BTC worthy $4.7 cardinal associated with Ordinal inscriptions person been collected by miners since the inclination began. The aforesaid Dune user, @dgtl_assets, offers different leafage of analytical insights that shows the corporate measurement betwixt six antithetic Ordinal inscription marketplaces. Markets see Ordinals Market, Ordswap, Ordinals Wallet, Open Ordex, Gamma, and Magic Eden.

These six Ordinal inscription markets person seen an aggregate full measurement that amounts to $19.31 million. So far, 53,124 trades person been executed by 18,462 unsocial traders, according to the Ordinal inscription marketplace data. Bitcoin commands a large woody of the volume, but the Ethereum blockchain is besides accounted for successful presumption of volume. The person successful unsocial users by marketplace is Ordinals Wallet, followed by Ordswap.

Meanwhile, the Ordinal inscription milestone reaching the 1 cardinal people comes astatine a clip erstwhile a caller mode of minting arbitrary contented to the Bitcoin blockchain has gained traction called Bitcoin Stamps. So far, determination are lone 17,293 Bitcoin Stamps connected the Bitcoin web astatine the clip of writing, but the task has continued to spot accrued adoption since its creator, Twitter idiosyncratic Mike successful Space, launched the project. Furthermore, connected the Litecoin blockchain, determination are 224,054 Litecoin-based Ordinal inscriptions since the thought was ported implicit to Litecoin.

What are your thoughts connected the ordinal inscription trend? Share your thoughts astir this taxable successful the comments conception below.

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