Over 100K Ordinals minted on Bitcoin

Taproot adoption and utilization spike to new all-time highs over a 7DMA as the number of Ordinals minted on BTC surpasses 100,000.

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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Quick Take

  • Since launching in January, the emergence of Ordinals and inscriptions has now surpassed 100,000 inscriptions, according to Dune Research data.
  • Ordinals leverage the Taproot soft fork, which has seen Taproot adoption and utilization spike to new all-time highs of 12.68% and 5.59%, respectively, over a (7DMA).
  • This has resulted in a rise in the mean block size, which has increased from 1.5 to 2MB to 3 and 3.5MB over the past week.
Inscribing ordinals: (Source: Dune)
Inscribing ordinals: (Source: Dune)
Taproot Adoption: (Source: Glassnode)
Taproot Adoption: (Source: Glassnode)
Mean Block Size: (Source: Glassnode)
Mean Block Size: (Source: Glassnode)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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