Bitget App
Trade smarter
Buy cryptoMarketsTradeCopyBotsEarnWeb3

Bitcoin Inscriptions Not a Fading Trend | Crypto Daily Digest Sep. 8

TokenInsightTokenInsight2023/09/08 13:49
By:TI Research

While Bitcoin NFT sales have declined, Ordinals inscriptions continue rising.

The number of inscriptions on Bitcoin blockchain is nearing 30 million, and on Sep 3rd, a record 418,240 inscriptions were minted, marking the 2nd highest daily mint to date.

Additionally, there has been a modest uptick in the fees generated by Bitcoin ordinals inscrptions recentaly. Although the fee trend had been relatively stagnant over time, the cumulative fees collected to date were over $50 milliom.

Recent data from the Bitcoin Mempool indicates an excess of 550,000 unconfirmed transactions, with memory usage exceeding its typical 300 MB capacity and reaching 1 GB. This sudden surge in unconfirmed transactions and increased memory usage could be linked to the renewed interest in Ordinals inscriptions.

Some prominent Ethereum NFT projects have even decided to migrate to Bitcoin recently.

Ethereum NFT Project OnChainMonkey Spends $1M to Migrate to Bitcoin

Today's Market

<figure class="image"> <figcaption> Source: TokenInsight Gainers and losers </figcaption> </figure>

Headlines

ConsenSys to Launch Decentralized Infura this year

Former FTX Executive Ryan Salame Pleads Guilty to Criminal Charges, Ordered to Forfeit $1.5B

New Article: What is Banana Gun? Is it worth participating in its offering?

Altcoins' Market Liquidity, Including LTC, XRP, SOL, SUI, Increased by over 40% Before Yesterday's Price Jump

TokenInsight Rating Monthly Review: August 2023

Other News in Case You Missed it:

Aave, Circle, Coinbase and More to Launch new Tokenized Asset Colaition

Southeast Asia Super App Grab Integrate Crypto Wallet

Base Ecosystem Fund Announces First Six Investments

Venus Protocol Launching Incentive Program in Q4 2023 to Promote $XVS Staking

Starknet Transaction Volume Surprssed Arbitrum, Ranked 2nd Among All Layer 2

Binance NFT to Discontinue The Sandbox NFT Staking Program and Remove Support for Polygon Network

What's New from TokenInsight?

The King of Restaking: Is EigenLayer's Business Model a Gem or a Mud: There has been a lot of buzz around EigenLayer's restaking recently. Today, we want to focus on EigenLayer's business model. So, how does EigenLayer's business model work? Can EigenLayer be profitable? Let's dive in and find out.

What is ERC-6551: The most important innovation for NFTs after ERC-721

Unravel Bitcoin Spot ETFs: Approval Timeline Prediction.What is Bitcoin Spot ETF? Want to know when and how they will be approved? Here is the answer!

Data Guide

What is order book liquidity? How can you compare liquidity data from major exchanges through TokenInsight?

How to Download Cryptocurrencies and Exchanges' Historical Data Using TokenInsight For Free?

How to use the TokenInsight API to obtain cryptocurrency rating data?

How to Import TokenInsight Cryptocurrency Data into Google Sheets?

55

Disclaimer: everything in the article represents the author's point of view and has nothing to do with this platform. This article is not intended to be used as a reference for making investment decisions.

‌Spot copy trading

More
AIOnline
AIOnline
insight1000/1000
8239.01%
ROI
Total profit $42018.92
WhaleGo_YouTube
WhaleGo_YouTube
insight500/500
1179.39%
ROI
Total profit $3424.52

Bot copy trading

More
GoldenEgg
GoldenEgg
insight101/150
$13710.47
Total profit
Total subscriber profits $-280.75
BGUSER-FFF8CNJ4
BGUSER-FFF8CNJ4
insight1/150
$4906.57
Total profit
Total subscriber profits $2.59