Bitcoin NFT Protocol Ordinals Surpasses 300,000 Inscriptions

03/05/2023 08:36 • NFT Newsflash • 122 views

It is reported that according to the latest data of Dune Analytics, the cumulative number of NFT inscriptions on the Bitcoin NFT protocol Ordinals has exceeded 300000, reaching 301644 so far, and the total cost incurred so far has reached about 66 BTC. Historical data shows that the casting volume of the Ordinals agreement NFT exceeded 100000 pieces on February 15 and 200000 pieces on February 28, which means that the new casting volume in the past week exceeded 100000, with a weekly increase of more than 50%.

The cumulative casting volume of Bitcoin NFT protocol Ordinals exceeded 300000, and the new casting volume this week exceeded 100000

Interpret the above information:

The latest data from Dune Analytics has shown that the cumulative number of NFT inscriptions on the Bitcoin NFT protocol Ordinals has exceeded 300,000, reaching 301,644 so far. This is a significant milestone for the platform, which has seen a surge in interest and usage in recent weeks. The total cost incurred so far has reached about 66 BTC, indicating a significant amount of value being generated through the platform.

Historical data shows that the casting volume of the Ordinals agreement NFT exceeded 100,000 pieces on February 15 and 200,000 pieces on February 28. This means that the new casting volume in the past week exceeded 100,000, with a weekly increase of more than 50%. These figures suggest that the platform is rapidly gaining traction and is poised for continued growth in the coming weeks and months.

NFTs, or non-fungible tokens, have garnered significant attention in recent months, as they are seen as a new asset class that has the potential to revolutionize the way people buy and sell digital assets. The Ordinals platform is one of several blockchain-based projects that aim to create a marketplace for these tokens, allowing users to buy and sell unique, digital assets.

Bitcoin, the world’s leading cryptocurrency, has also seen a surge of interest in recent weeks, as it has broken through several significant price barriers and is now trading at over $50,000 per coin. This has created a favorable environment for platforms like Ordinals, as investors and traders look for new ways to profit from the cryptocurrency boom.

Overall, the surge in usage and adoption of the Ordinals platform is a positive development for the NFT space, and could signal the beginning of a new era for digital asset trading. As more investors and traders embrace this new technology, it is likely that we will see continued growth and innovation in the space, with new platforms emerging to meet the demand for NFTs and other unique digital assets.

In conclusion, the latest data from Dune Analytics shows that the Bitcoin NFT protocol Ordinals has surpassed 300,000 inscriptions, marking a significant milestone for the platform. With a weekly increase of more than 50%, the platform is rapidly gaining traction and is poised for continued growth in the coming weeks and months. As the NFT space continues to evolve, it will be interesting to see how platforms like Ordinals adapt to meet the changing needs of investors and traders.

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