Bitcoin inscriptions cross 1M to reach new record-breaking heights

One millionth inscription achieved in the face of soaring transaction volume

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

  • Over the weekend, we saw the one millionth Bitcoin inscription.
  • This a historic feat in such a short time, as inscriptions only started to occur at the beginning of 2023.
  • As a result of the surge in Inscriptions, this has been a net benefit for Bitcoin miners as their fees have skyrocketed.
  • Over a 7-day moving average, the total fees paid to miners is roughly $750,000 or 27 BTC.
  • A one-year high in terms of BTC fees for miners.
Inscriptions: (Source: Glassnode)
Inscriptions: (Source: Glassnode)
Fees: (Source: Glassnode)
Fees: (Source: Glassnode)
Inscriptions: (Source: Glassnode)
Inscriptions: (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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Bitcoin BTC (24h)
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