Bitcoin Ordinal Inscriptions, digital assets akin to NFTs inscribed on a satoshi, have been flooding the Bitcoin network with transactions, pushing it to an all-time high. While miners enjoy record-breaking profits from the fees generated, a surprising negative correlation has emerged between the number of transactions and active addresses. What does this mean for the future of the Bitcoin network and these intriguing Bitcoin Ordinals? Uncover the unexpected consequences and predictions in our exclusive Alpha content...
Research: Bitcoin Inscriptions might have run their course Research: Bitcoin Inscriptions might have run their course
Uncover how the surge in Bitcoin Ordinal Inscriptions led to all-time high transaction numbers and miner profits, while also raising questions about network congestion and a decrease in active addresses.
4 min read
Updated: August 4, 2023 at 3:22 pm
Cover art/illustration via CryptoSlate
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
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