- Ordinals inscriptions have surpassed 411,000.
- Its contribution to transaction fees over the past week has also exceeded 6%.
Ordinals and other Layer 2 solutions have made the Bitcoin network no longer only used for BTC transactions. Even though Ordinals has been met with mixed reactions from the Bitcoin community, its growing popularity and potential effects on the Bitcoin network could be a game changer for BTC miners.
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And the Ordinals fever goes on
As far as we can tell, the Ordinals craze shows no signs of slowing down. The fact that established NFT firms like Yuga Labs have entered the market with products like TwelveFold is evidence of the technology’s growing ubiquity.
The entrance of new players has led to an ever-increasing number of Ordinals inscriptions, which, at the time of this writing, stood at 411,541.
Ordinals bring positives to Bitcoin transaction fees
The overall fees have increased as the number of Ordinals inscriptions has grown. There had already been almost $1.5 million in fees collected as of this writing, and that number would only rise as more inscriptions were completed.
Dune and
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Author: Suzuki Shillsalot
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