In the wake of a substantial increase in onchain transaction fees for Bitcoin, the compensation to bitcoin miners from inscription-based transfers has hit a record peak in the last 24 hours. An estimated total of $9.97 million was allocated to miners, eclipsing the former high of $7.21 million established on May 8, 2023. Miners Rake…
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In a newly published prediction report, Bitget, a leading derivatives crypto exchange, forecasts a vibrant future for the Bitcoin ecosystem, with BTC potentially soaring to $100,000 and the ORDI BRC20 token climbing the ranks in the next bull market. Bitget researchers say this expansion is set to revolutionize the crypto world, offering unprecedented growth opportunities.
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On Dec. 15, 2023, a significant milestone was achieved in the Bitcoin blockchain world, just a day shy of the anniversary of the first Ordinal inscription. The total count of Ordinal inscriptions has impressively hit the 48 million mark. Despite initial skepticism about their longevity, these inscriptions have not only persisted but now make up…
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Bioniq operates on the Internet Computer Protocol, tapping into native Bitcoin integration to ease the network congestion and high fees associated with Ordinals inscriptions. A new Bitcoin nonfungible token (NFT) marketplace aims to reduce network fees associated with the advent of Bitcoin Ordinals inscriptions by tapping into the Internet Computer Protocol (ICP). Developed off the…
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The buzz surrounding Bitcoin’s leap into the NFT world via Ordinals might be fleeting. A Dappradar study reveals that trading actions and sales figures for Bitcoin Ordinals have plummeted by a staggering 97% since their May 2023 zenith. This downturn mirrors a wider slowdown in the NFT sector. However, the slump in Bitcoin Ordinals is…
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While non-fungible token (NFT) sales witnessed a substantial increase in May, demonstrating significant progress, recent data indicates that NFT sales have soared by 39.35% within just the last week alone. Furthermore, sales figures for the trailing week demonstrate that the Bitcoin blockchain maintains its rank as second in weekly sales volume. Ethereum Dominates NFT Market…
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Despite hating on crypto for years, and calling NFTs worthless and easy to replicate two years ago, Peter Schiff is set to release an NFT art collection on Bitcoin. In what seems like a parody but isn’t, Economist, gold proponent and avid crypto skeptic Peter Schiff has unveiled a collaborative nonfungible token (NFT) art collection…
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In the past month, recent data reveals that sales of non-fungible tokens (NFTs) originating from the Bitcoin blockchain have surged to $173.28 million. Surpassing 20 alternative blockchain networks, Bitcoin-based NFT sales now secure the second position in the realm of blockchain sales, with only Ethereum reigning supreme. Bitcoin-Based NFTs Storm the Market, Surpassing 20 Blockchain…
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On May 15, 2023, the number of Ordinal inscriptions surpassed the 7 million mark and as of 9:00 a.m. Eastern Time on Tuesday morning, 7,204,882 Ordinal inscriptions have been added to the Bitcoin blockchain. Miners have collected 1,324 bitcoin in fees by confirming inscription transactions which equate to roughly $35.86 million in added onchain fees.…
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The BRC-20 token standard utilizes Ordinal inscriptions to deploy token contracts, mint tokens and transfer tokens. A new daily all-time high has been recorded for the number of Ordinals inscribed on the Bitcoin (BTC) network due to a recently launched “token standard” for the blockchain. Bitcoin Ordinals reached 58,179 inscriptions on April 2, smashing the…
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