The number of Ordinals inscriptions on the Bitcoin (BTC) network has witnessed another meteoric rise, almost doubling from 2.5 million to 4.78 million in just the last eight days. While the Ordinals protocol was initially used to mint images as non-fungible tokens (NFTs), users began to realize that they could use text-based inscriptions to create fungible tokens in a similar way to those minted via the ERC-20 token standard on the Ethereum (ETH) network. The total number of Bitcoin Ordinals inscriptions since December 14. Source: Dune Analytics These text-based inscriptions,…
Read MoreOrdinals inscriptions approach 4.8M, nearly doubling in just over a week
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