Bitcoin NFT Protocol Ordinals Outstripping All Records

04/27/2023 06:40 • Blockchain Buzz • 138 views

According to reports, according to Dune Analytics data, the number of inscriptions cast on the Bitcoin NFT protocol Ordinals reached 151000 on April 26, setting the second highest daily record so far. The highest record in history occurred on April 23, with over 190000 inscriptions cast on that day. In addition, the current total number of Ordinal cast inscriptions has exceeded 1.873 million, resulting in a total cost of approximately 188.4 BTCs to date.

Bitcoin NFT protocol Ordinals cast over 150000 inscriptions yesterday, setting the second highest daily casting record to date

Bitcoin’s NFT protocol Ordinals have been breaking records, with the number of inscriptions cast on the network reaching new heights every day. According to reports, the Ordinals recorded 151,000 inscriptions on April 26, which was the second-highest daily record to date. This surge in activity has pushed the total number of Ordinal cast inscriptions past 1.873 million, with a total cost of approximately 188.4 BTCs.

What Are Ordinals?

Before we delve deeper into the surge of Ordinals activity, let’s take a look at what Ordinals are and how they work. Ordinals are a type of NFT protocol that allows users to create and trade NFTs that are tied to specific items or events. One of the most significant differences between Ordinals and other NFT protocols is that Ordinals are entirely customizable. This means that users can create an NFT that is unique and personalized, making it more valuable to collectors.

The Rise of Ordinals Activity

The surge in Ordinals activity is an indication of the increasing popularity of NFTs in the cryptocurrency space. More individuals and businesses are turning to NFTs to preserve their digital assets or build new revenue streams. For instance, the NBA has partnered with Top Shot, an NFT marketplace that allows users to own moments from NBA games. The rise of NFTs has led to an increase in demand for Ordinals, which have been growing in popularity since their inception last year.

The Future of Ordinals

The future of Ordinals looks bright, with more people realizing the benefits of the protocol. The increasing demand for Ordinals will undoubtedly lead to the development of new features and use cases. As blockchain technology continues to evolve, we can expect to see Ordinals being used in new and exciting ways.

Conclusion

The growth in activity and popularity of Ordinals is a clear indication that NFTs are here to stay. Ordinals are paving the way for the development of new and customizable NFT protocols, making it easier for businesses and individuals to profit from their digital assets. While many may be skeptical of NFTs, there is no denying that they are changing the way we view digital ownership and value.

FAQs

Q: What is the difference between Ordinals and other NFT protocols?
A: Ordinals are entirely customizable, meaning that users can create unique and personalized NFTs, making them more valuable to collectors.
Q: What is the current total number of Ordinal cast inscriptions?
A: The total number of Ordinal cast inscriptions is over 1.873 million, with a total cost of approximately 188.4 BTCs.
Q: What is the future of Ordinals?
A: The future of Ordinals looks bright, with more people realizing the benefits of the protocol. The increasing demand for Ordinals will undoubtedly lead to the development of new features and use cases.

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