Bitcoin Ordinals Pass 1 Million Inscriptions Milestone


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Less than three months after the Ordinals project began, the number of inscriptions exceeded one million. As of April 10th, 1,058,189 Ordinals NFTs have mined over 170 BTC in fees, or he has earned $4.8 million at the time of writing.

A major milestone was reached on April 8th at 17:44:24 UTC with an inscription consisting of the now immortal word “Piggy”. ‘an enviable asset attributed toPiggy’s WorldA project consisting of hand-drawn images etched into the Bitcoin Ordinals protocol.

Despite its popularity, Ordinals has proven to be divided among both Bitcoin and NFT circles, with some believing it undermines the overarching message of the world’s largest blockchain network. increase. But Ordinals’ freight train, with its one million inscriptions and growing numbers, shows no signs of slowing down.

Magical Eden dominates ordinal trading volume

To help the project get noticed, Magic Eden recently introduced a marketplace specifically for trading Bitcoin NFTs. This makes the inscriptions more accessible to the average collector and is reflected in the overall volume. Currently, Bitcoin NFTs have generated over $19.5 million in sales across various markets, with 18,462 unique his users making his 54,174 individual transactions.

Trading takes place on 6 marketplaces: Ordinals Market, OrdinalsWap, Ordinals Wallet, Open Ordex, Gamma and Magic Eden. At the time of writing, Magic Eden dominates the volume at 66%, followed by Ordinals Wallet at 21%. However, these figures only tell half the story, as Magic Eden figures include a significant number of sales of high-value De-Gods Bitcoin NFTs.

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Conor the Tech Veteran
He previously spent 6 years publishing research on tech stocks, and believes in using a combination of fundamental, technical, and quantitative analysis. Prior to a career in tech stocks journalism he was a technology and semiconductor analyst with a research team.

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