Cryptory.net - In the last 5 days, Avalanche users have spent millions of dollars in transaction fees to mint and move Inscriptions-based tokens and NFTs.
Despite the recent price decline and speculation about the waning buzz surrounding Bitcoin NFTs, ordinal inscriptions have remained the predominant activity on the Bitcoin network in the past week.
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.
A renowned economist and author of The Bitcoin Standard recently conveyed his opinion that Bitcoin (BTC) has the potential to tackle the obstacles confronting the present-day financial system.
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%.
Cryptory.net - Bitcoin Ordinals and BRC-20 tokens continue to prove its appeal as the number of Ordinals inscriptions is increasing, leading to a sharp rise in BTC transaction fees.
