Tag: Bitcoin NFTs

Sales volume and transactions for Bitcoin NFTs have been steadily decreasing since June, suggesting a potential decline in interest for Bitcoin Ordinals.

Bitcoin Ordinal inscriptions approach 19 million, a trend for 218 days since December 16, 2022. Miners have earned around 1,847.66 BTC in fees, equivalent to approximately $55.29 million, confirming the vast number of inscriptions.

Developers specializing in blockchain technology are at the forefront of finding innovative solutions to mitigate the issue of blockchain bloat resulting from Bitcoin NFTs. These advancements have the potential to decrease the creation costs of Bitcoin NFTs by up to 90%.

On Friday, a BRC-20 token that looked convincing managed to steal around $63,000 worth of Bitcoin from traders who were unaware.

The BRC-20 token standard of Bitcoin holds the potential to revolutionize the entire Bitcoin blockchain.

Recently, there has been a surge in activity for Bitcoin ordinal inscriptions, leading to a significant increase in the number of inscription transactions.

Transferring ownership of a physical asset in case of emergency or death is straightforward, but the same cannot happen for digital assets.

Since the launch of its marketplace for the Bitcoin NFTs, Magic Eden's share in the Ordinals market has skyrocketed, accounting for more than 50% of the market.

What are Bitcoin Ordinals? How do they work? Let’s find out more about the new type of NFT with us in this article.