Bitcoin NFT Protocol Ordinals Sets Record High with Over 190,000 Inscriptions in a Single Day

On April 24th, according to Dune Analytics data, the Bitcoin NFT protocol Ordinals, launched by software engineer Casey Rodarmor, had a record high of over 190000 inscriptions cast on a single day on April 23rd. The number of textual inscriptions is 190202, accounting for 98.5%. The total number of inscriptions cast based on the Bitcoin NFT protocol, Ordinals, has reached 1.58 million, and the total cost incurred so far has reached 181 BTCs.

Data: Bitcoin NFT protocol Ordinals has cast over 190000 inscriptions yesterday, setting a new record high

Introduction

On April 24th, Dune Analytics released data showing that the Bitcoin NFT protocol Ordinals had set a record high for the number of inscriptions cast in a single day. Created by software engineer Casey Rodarmor, Ordinals has quickly gained popularity in the cryptocurrency community as a reliable and efficient NFT protocol.

What is the Bitcoin NFT Protocol Ordinals?

Ordinals is a non-fungible token (NFT) protocol that uses the Bitcoin network to create and manage NFTs. It was created by Casey Rodarmor in 2019, and has gained a lot of attention in the cryptocurrency community for its simplicity and efficiency.

The Record High

On April 23rd, the Ordinals protocol hit a new record high, with over 190,000 inscriptions cast in a single day. Of these inscriptions, 98.5% were textual inscriptions. This is an impressive milestone for the protocol and reflects the growing popularity of NFTs in the cryptocurrency space.

The Total Number of Inscriptions

Since its launch in 2019, the Ordinals protocol has seen a total of 1.58 million inscriptions cast. This demonstrates the growing interest in NFTs as an alternative investment opportunity, and the potential of the Ordinals protocol to provide a reliable and efficient way to create and manage NFTs.

The Total Cost Incurred So Far

The total cost incurred for casting inscriptions on the Ordinals protocol has reached 181 BTCs. This highlights the increasing value of NFTs and the potential for profit in the cryptocurrency market.

Benefits of Using the Ordinals Protocol

The Ordinals protocol has a number of benefits over other NFT protocols. It is simple to use, efficient, and secure. It also allows for textual inscriptions, making it more versatile than other protocols. Additionally, as it uses the Bitcoin network, it is more reliable and secure than other blockchain networks.

The Future of the Ordinals Protocol

As NFTs continue to gain popularity, the future of the Ordinals protocol looks bright. Its efficient and reliable design, coupled with its simplicity and versatility, make it an attractive option for those looking to create and manage NFTs. With its recent record high in inscriptions cast, it is clear that the Ordinals protocol is becoming a dominant force in the cryptocurrency world.

Conclusion

The Ordinals protocol is quickly gaining popularity in the cryptocurrency world as an efficient and reliable option for creating and managing NFTs. Its recent record high in inscriptions cast and growing user base demonstrate the potential for this protocol to become a dominant force in the NFT space.

FAQs

1. What is Ordinals?
– Ordinals is a non-fungible token (NFT) protocol that uses the Bitcoin network to create and manage NFTs.
2. Why is the Ordinals protocol gaining popularity?
– The Ordinals protocol is gaining popularity due to its simplicity, efficiency, and versatility. It also allows for textual inscriptions, making it more versatile than other protocols.
3. What is the future of the Ordinals protocol?
– The future of the Ordinals protocol looks bright, as its efficient and reliable design make it an attractive option for those looking to create and manage NFTs.