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Bitcoin Inscriptions nearing 5M: miner’s future earnings amid economic uncertainty

Explore the surge in blockchain inscriptions and consider the implications this trend will have for miners' revenue.

James Van Straten
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James Van Straten
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Quick Take

  • Inscriptions which is the process of writing data into the blockchain via the Witness portion of a Bitcoin transaction.
  • The total count of Inscriptions is now approaching 5 million; as you can see, it predominately comes from text-based inscriptions.
  • Inscriptions have also generated a cumulative fee of 904 Bitcoin.
  • This benefits miner tremendously, but is this here to stay? If a true recession were to occur, would we still see the demand?
Inscriptions: (Source: Glassnode)
Inscriptions: (Source: Glassnode)
Cumulative fees: (Source: Glassnode)
Cumulative fees: (Source: Glassnode)
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Bitcoin 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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