Ordinal Inscriptions Approach 19 mn
As of July 22, 2023, 18,599,837 Ordinal inscriptions have been issued on the bitcoin blockchain, with 78.5% in plain text form or character sets and 13.5% plain text. The remaining inscriptions include images, GIF files, animations, and applications. The largest daily Ordinal inscription was on May 7, with 400,091 inscriptions. In July, the number of inscriptions per block increased significantly, with some blocks confirming more than 5,000 inscriptions. However, fees from Ordinals experienced their largest increase on May 7 and 8, but have since stagnated.
People are paying less to confirm inscriptions than in May, but higher fees are absent. As of July 22, there are over 300,000 unconfirmed transactions on the bitcoin blockchain. Low-priority transactions cost 71 cents, while high-priority transactions cost senders around $1.88 or 0.000063 BTC. Both financial transactions and Ordinal inscriptions contribute to the backlog of transactions. In the past 30 days, $98.85 million in NFT sales were recorded, with the bitcoin blockchain having the second highest number of sales among 22 different blockchain networks. Only two bitcoin-based NFT collections are among the top 10 in terms of 30-day sales.
(With inputs from Shikha Singh)
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