Over the previous month, Bitcoin transaction charges for Ordinals inscriptions have elevated by 240%.
Utilizing the Ordinals protocol to create nonfungible token (NFT)-like inscriptions has earned Bitcoin miners over $5 million.
Based on Dune Analytics information, transaction charges for Ordinals transactions elevated by 240% from $1.5 million on March 10 to $5.2 million on April 12.
The rise got here after a sluggish time from February 16 to March 10, when gross sales went from $1 million to $1.5 million. Earlier than that, charges for the Ordinals protocol, which began on January 21, had reached $1 million within the first 4 weeks.
The Bitcoin community has just lately recorded a big milestone, with nearly 1.1 million Ordinals being inscribed on it. These Ordinals primarily include JPEG pictures and textual content, but in addition embody a wide range of different codecs comparable to PDFs, movies, and audio information.
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