The Ordinals Protocol Launches Record Number of Inscriptions in One Day

04/24/2023 09:13 • NFT Newsflash • 131 views

On April 24th, according to Dune Analytics data, the Bitcoin NFT protocol Ordinals, launched by software engineer Casey Rodarmor, had a record high of over 190000 inscriptions cast on a single day on April 23rd. The number of textual inscriptions is 190202, accounting for 98.5%. The total number of inscriptions cast based on the Bitcoin NFT protocol, Ordinals, has reached 1.58 million, and the total cost incurred so far has reached 181 BTCs.

Data: Bitcoin NFT protocol Ordinals has cast over 190000 inscriptions yesterday, setting a new record high

If you’re a cryptocurrency enthusiast, you may have heard the buzz about the Ordinals protocol. Developed by software engineer Casey Rodarmor, this Bitcoin NFT protocol is quickly gaining popularity among collectors and investors alike. In fact, according to recent data from Dune Analytics, the Ordinals protocol had a record high of over 190,000 inscriptions cast in a single day on April 23rd.

What is the Ordinals Protocol?

Before we dive into the record-breaking numbers, let’s take a closer look at what the Ordinals protocol actually does. As mentioned, it is a Bitcoin NFT protocol that allows users to create and own unique digital assets, otherwise known as non-fungible tokens or NFTs. Essentially, this means that each NFT created through the Ordinals protocol is one-of-a-kind and cannot be replicated or duplicated.

The Record High of Inscriptions

Now, let’s get back to the record-breaking numbers. On April 24th, Dune Analytics reported that the Ordinals protocol had received over 190,000 inscriptions in a single day. Of those inscriptions, 98.5% were textual inscriptions, totaling 190,202. This is a significant increase from previous days, and it showcases just how popular the Ordinals protocol has become.

The Total Number of Inscriptions

Since its launch, the Ordinals protocol has seen a total of 1.58 million inscriptions cast based on its Bitcoin NFT protocol. This is a promising sign for the future of the protocol and suggests that it will continue to gain momentum among the cryptocurrency community.

The Cost Incurred So Far

Of course, creating and owning NFTs through the Ordinals protocol comes at a cost. As of the time of this writing, the total cost incurred for inscriptions made through the Ordinals protocol stands at 181 BTC. This may seem like a significant sum, but for many collectors and investors, it is a small price to pay for owning a unique and valuable digital asset.

Conclusion

The Ordinals protocol is making waves in the cryptocurrency world, and for good reason. Its unique Bitcoin NFT protocol allows users to create and own non-fungible tokens that are truly one-of-a-kind. With a record-breaking number of inscriptions cast in a single day and a growing community of users, it’s clear that the Ordinals protocol has a bright future ahead.

FAQs

Q: What is an NFT?
A: An NFT, or non-fungible token, is a digital asset that is unique and cannot be replicated or duplicated.
Q: How much does it cost to create an NFT through the Ordinals protocol?
A: The cost of creating an NFT through the Ordinals protocol varies based on the current market value of Bitcoin.
Q: Can I sell my Ordinals NFTs?
A: Yes, once you create an NFT through the Ordinals protocol, you can sell it to other collectors and investors.

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