A new Glassnode report says that Bitcoin (BTC) Ordinals are not displacing monetary transfers despite concerns of network clogging. In a Sept 25 release, on-chain analytics firm Glassnode explained the role of BTC inscriptions on the network, their impact in competition with other transactions, and how they shape the mining industry. According to the report,…
Read more
Casey Rodarmor, creator of Bitcoin Ordinal inscriptions, introduced a new fungible token protocol named Runes in a blog post September 25, 2023. Although uncertain if it’s a “good idea,” Rodarmor believes a robust fungible token protocol could “bring significant transaction fee revenue, developer mindshare, and users to Bitcoin.” Bitcoin’s Ordinals Pioneer Presents New ‘Runes’ Protocol…
Read more
Animoca Brands subsidiary Darewise Entertainment has announced plans to launch the first-ever metaverse token for the Bitcoin blockchain. The studio says the new token aims to power a full ecosystem on Bitcoin for gaming, brands, and real-world experiences. Bitcoin Enters the Metaverse: Darewise and Animoca Brands to Pioneer New Token Darewise disclosed that the upcoming…
Read more
Bitcoin Ordinals appear to be alive and kicking with nearly 85% of network activity dominated by inscriptions and BRC-20 minting on Aug. 21. Ordinal inscriptions have continued to dominate activity on the Bitcoin network over the past week despite the cryptocurrency’s recent price decline and suggestions that the hype around Bitcoin NFTs have “died.” On…
Read more
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…
Read more
The Ordinals Protocol is generating a circular digital economy where assets are priced, bought and sold via Bitcoin. In an email dated Jan. 17, 1993, Hal Finney — a developer and early contributor to Bitcoin — shared the concept of “encrypted digital cards,” which are now known as nonfungible tokens (NFTs). “Giving a little more…
Read more
Previously unrecognized Ordinals inscriptions will be indexed by the protocol following the upgrade, which will allow them to be traded. Developers behind the Bitcoin Ordinals protocol have rolled out a new upgrade that aims to cure over 71,000 invalid or “cursed” inscriptions — allowing them to be traded. “Cursed inscriptions” was the name given to…
Read more
On Monday, May 28, 2023, a pivotal landmark was reached as the aggregate quantity of Ordinal inscriptions minted on the Bitcoin blockchain exceeded 10 million in under half a year. Since Ordinal inscriptions’ inception, bitcoin miners have garnered roughly 1,596 bitcoins, valued at $44.37 million. 10 Million Ordinal Inscriptions and Counting This week witnessed the…
Read more
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…
Read more
The total number of Bitcoin Ordinals has surpassed 8 million since its inception in January. According to a report compiled by @dgtl_assets of Dune Analytics, the total network fees paid for the minting of Bitcoin Ordinals reached 1,414 Bitcoin (BTC), or $38.2 million, on May 20, representing an increase of 700% from April 20 and…
Read more
