Bitcoin NFT Protocol Ordinals Surpasses 300,000 Inscriptions with a total cost of 66 BTC
It is reported that according to the latest data of Dune Analytics, the cumulative number of NFT inscriptions on the Bitcoin NFT protocol Ordinals has exceeded…
It is reported that according to the latest data of Dune Analytics, the cumulative number of NFT inscriptions on the Bitcoin NFT protocol Ordinals has exceeded 300000, reaching 301644 so far, and the total cost incurred so far has reached about 66 BTC. Historical data shows that the casting volume of the Ordinals agreement NFT exceeded 100000 pieces on February 15 and 200000 pieces on February 28, which means that the new casting volume in the past week exceeded 100000, with a weekly increase of more than 50%.
The cumulative casting volume of Bitcoin NFT protocol Ordinals exceeded 300000, and the new casting volume this week exceeded 100000
Interpretation of the news:
The latest data from Dune Analytics published on March 8, 2021, reveals that the number of NFT inscriptions on Bitcoin NFT protocol Ordinals has surpassed 300,000, reaching a total of 301,644 as of now. This milestone is significant and demonstrates the growing popularity of NFTs as the new playground for digital artists, collectors, and investors.
Historical data highlights that the NFT casting volume of the Ordinals agreement surpassed 100,000 on February 15, further reaching 200,000 on February 28. This means that the new casting volume in the past week exceeded 100,000 inscriptions, indicating a weekly increase of over 50%.
The tremendous increase in NFT inscriptions has rolled out a total cost of 66 BTC so far. The data suggests that the market for NFTs is positively growing, which implies that the Ordinals platform has made headway in addressing previous issues by enabling a transparent, secure, and cost-effective platform that facilitates the creation and sale of NFTs.
As cryptocurrency prices keep rising, non-fungible tokens have become the latest craze among crypto enthusiasts. The hype around NFTs also harkens back to the 2017 ICO era when institutions and retail investors flooded the market with demand, leading to a prolonged bull run.
NFTs offer numerous opportunities for digital artists as they provide an easily identifiable and scarce means of selling their creations while allowing collectors and speculators to own one-of-a-kind digital assets. In addition, blockchain technology used in Ordinals ensures that the ownership and authenticity of these digital assets can be easily verified.
The data indicates that Ordinals has become a popular platform for this new breed of artists to showcase their digital art, and the addition of the Bitcoin protocol to create NFTs will only lead to more adoption within the art and tech communities.
In conclusion, the Ordinals platform’s ability to leverage blockchain technology and grow its user base is a positive indicator for the future of non-fungible tokens. The rise in NFT inscriptions shows that more investors and collectors are considering NFTs as an art form and an asset class. This trend is expected to continue as the market matures and evolves, creating a massive shift in the art world as we know it.
Title: Bitcoin NFT Protocol Ordinals Surpasses 300,000 Inscriptions with a total cost of 66 BTC
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