Bitcoin witnessed record-breaking fees due to the frenzy of activity on the new Runes Protocol, which went live on its fourth halving event. After months of inactivity, Runes activity is seeing a notable resurgence. Bitcoin Runes Stages Comeback The latest data compiled by IntoTheBlock shows that the number of Bitcoin Runes transfers has tripled since...Read More
In yet another milestone for the Bitcoin network, its daily transactions peaked at 927,000, surpassing the previous record of 724,000 set in December 2023, according to findings by Intotheblock. The launch of Runes sparked a rapid increase, demonstrating growing interest and utility in cryptocurrencies, setting a new all-time high in Bitcoin’s transaction activity. Runes, a...Read More
The average Bitcoin transaction fee dropped on Sunday after reaching a record high the day before. Following the much-anticipated halving, the average fee per Bitcoin transaction hit a record high of $128.45 stemming from Runes. However, data from YCharts revealed that the figure subsequently fell to $34.8 million on April 21. Bitcoin Transaction Fees Plunges...Read More
One week before the halving, the Bitcoin network is faced with another wave of hot demand, with some coming from a now familiar source: Ordinals traders. As of Thursday, data from mempool.space shows that Bitcoin users are paying over 90 sats/vByte of block space, placing the average cost of a transaction at $8.50 apiece. Ordinals...Read More
Cathie Wood has been one of the biggest proponents of Bitcoin. Interestingly, the investor’s financial company accidentally owns a Bitcoin Puppet. Arkham’s latest update revealed a fascinating twist involving the investment management firm’s inadvertent ownership of a Bitcoin Puppet valued at $15,000. The Bitcoin Puppet in question found its way into a custody wallet associated...Read More
The Bitcoin network is rapidly evolving, and its on-chain fundamentals have changed completely compared to the last bull run in 2021. The two most important upgrades on the network – Taproot and SegWit – are seeing increased user adoption despite challenges in the market. According to an update by CryptoQuant CEO Ki Young Ju, Taproot...Read More
Peculiar occurrences have unfolded just one week into 2024. In a bizarre turn of events within the crypto industry, an anonymous wallet spent 1.5 BTC to inscribe encrypted data onto the Bitcoin blockchain. Through 332 transactions, the wallet exhausted BTC equivalent to $66,000 at current market prices, embedding nearly 9 megabytes of encrypted data into...Read More
Several crypto exchanges have joined the Bitcoin Ordinals solutions provider, UniSat Wallet, to support the upcoming BRC-20 Ordinals Jubilee upgrade amid growing friction within the BTC community. According to an official announcement, KuCoin will be among those. The exchange’s decision comes within 24 hours after OKX informed the crypto community about its support as well....Read More
Bitcoin miners are experiencing significant gains, thanks to a surge in transaction fees that have reached their highest levels since April 2021, primarily driven by the increasing demand for Ordinals inscriptions. The positive momentum in the market throughout this year has served as a valuable recovery for miners, compensating for the challenges faced in the...Read More
The rise and triumph of the Ordinals in 2023 have provoked the ire of Bitcoin maximalists. The surge in transaction fees, in particular, has heightened tensions between the two factions of the Bitcoin community. In an unexpected turn of events, a contributor to Taproot Wizards, a collection featuring inscriptions by Bitcoin Ordinals, claims to have...Read More
A recent development has seen a substantial increase in transaction activities on major Ethereum Virtual Machine (EVM) chains. According to Etherscan, a widely used blockchain analytics platform, 95% of these transactions can be attributed to inscriptions. The Ordinals Inscriptions Wave Ordinals inscriptions, which involve embedding unique data in transaction call data to create non-fungible tokens...Read More
Miners have achieved an unprecedented milestone by accumulating record-breaking daily fees amounting to $23.7 million, according to CryptoQuant’s analyst. The surge in mining revenue and fees is a direct result of the growing utilization of the Bitcoin network, particularly evident on December 16th when the fees surpassed the $23.7 million mark. This heightened fee collection...Read More
The Bitcoin Ordinals market witnessed a remarkable surge in trading activity, with the volume surpassing $36 million on December 12 and subsequently establishing a new record. The excitement surrounding SATS increased following the official announcement from Binance regarding the inclusion of BRC-20 Sats (1000SATS). The spot trading pairs for 1000SATS were made accessible earlier this...Read More
In a December 9 announcement, the National Vulnerability Database (NVD) identified a critical vulnerability in Bitcoin’s inscriptions, potentially impacting the Ordinals Protocol developed in 2022. The NVD, overseen by the National Institute of Standards and Technology (NIST), a branch of the U.S. Department of Commerce, plays a crucial role in cataloging and spreading information about...Read More
The Bitcoin community has just witnessed the largest Ordinals inscription sale of all time amid the resurgence of digital artifacts on the largest blockchain network. According to a tweet by Solana-based non-fungible token (NFT) marketplace Magic Eden, Ordinals inscription #8 from the Honey Badgers has been sold for 10.4 bitcoins (BTC) worth approximately $450,000. We...Read More
A Bitcoin Core developer, Luke Dashjr, asserted that a bug fix on the largest blockchain network could potentially prevent new BTC ordinals and BRC-20 tokens from causing congestion by addressing an alleged vulnerability. The statement comes as Bitcoin approaches the $45,000 mark and a surge in unconfirmed transactions on the blockchain, reigniting the discussion around...Read More
An X user recently identified discrepancies in Binance’s BRC-20 ORDI balances caused by inconsistent indexing. On the UniSat indexer, Binance possesses 7.239 million ORDI, while the Ordiscan index reflects a holding of 2.293 million ORDI. This variance amounts to approximately five million. Discrepancies in BRC-20 ORDI Balances on Binance BRC-20 ORDI, an experimental token built...Read More
Bitcoin Ordinals are taking the network by storm yet again. The total count of minted Bitcoin Ordinals Inscriptions has climbed to a new record. This milestone coincides with the second anniversary of the activation of the highly awaited Bitcoin upgrade, Taproot, which occurred at block 709,632 on November 14th and was the catalyst for the...Read More
The Ordinals (ORDI) token experienced more than 50% price increase within the past day following its listing on the Binance under the “seed” label on November 7th. ORDI – which is tied to Bitcoin Ordinals – surged from $7.5 to $11.6 on the day as the crypto exchange announced opening trading for new spot trading...Read More
The trend coincided with a notable surge in block space demand – a trend that has happened on par with the release of Ordinals and Inscriptions. The elevated demand has been sustained ever since, according to Glassnode’s latest analysis. Despite the concerns surrounding Ordinals congesting the Bitcoin network, the blockchain intelligence firm suggests that there...Read More
Bitcoin Ordinals stirred up a frenzy in the community soon after its launch in January 2023. More than eight months later, ordinal inscriptions have maintained their prominence in the Bitcoin network’s activities over the past week. Despite a sharp drop in sales volume, Bitcoin Ordinals remains very much active. Ordinals Account for 85% of Activity...Read More
The Ordinals protocol team announced the launch of a non-profit organization, dubbed ‘Open Ordinals Institute,’ to fund its open-source development. The Open Ordinals Institute is a registered 501(c)(3) California-based public charity that will collect donations in Bitcoin to back the protocol’s development by funding its core group of developers. The focus will also be on...Read More
Bitcoin maximalists have proved to be highly staunch supporters of the crypto asset. For more than a decade, they have stayed as a united front, but the advent of Ordinals shook up the long-standing narrative. 2023 will be known for many things, one of them being – the Bitcoin community’s split into two warring factions....Read More
Ordinals developers are pioneering ways to make reduce blockchain bloat caused by Bitcoin NFTs, potentially reducing their creation costs by 90%. The latest among these is BRC69 – a new standard proposed by Ordinals launchpad platform Luminex to “optimize the costs of inscribing on Bitcoin using the Ordinals protocol.” The BRC69 Standard According to Luminex’s...Read More
Bitcoin users have registered over 10 million inscriptions into the Bitcoin blockchain using the newly popular Ordinals protocol. The milestone comes shortly after Ordinals founder Casey Rordamor stepped down as the project’s lead maintainer on Saturday. Ordinals’ Blistering Growth According to data from Dune Analytics, Bitcoin sports exactly 10,018,046 Ordinals inscriptions at writing time –...Read More
Stably – a stablecoin-as-a-service provider and fiat to crypto on-ramp – has launched the first-ever dollar-pegged stablecoin issued directly on the Bitcoin blockchain. The token, Stably USD ($USD) is based on the emerging BRC-20 token standard around which many Bitcoin-based memecoins popularized earlier this month. Stably USD and the Meme Economy Per a tweet from...Read More
The latest buzz in the crypto world revolves around the newly introduced Bitcoin token standard (BRC-20), which has garnered considerable attention and favor owing to the recent memecoin craze. Despite the ongoing hype, the token standard is still subject to certain constraints concerning the broader crypto landscape. A recent report by leading crypto exchange Bitfinex...Read More
The Bitcoin ordinal inscription craze is back, and network transactions are surging as a result. On May 1, on-chain analytics provider Glassnode reported that daily transactions were approaching peak levels. The 30-day moving average for the metric had reached 348,700 daily transactions. Furthermore, the peak level was measured in 2017 when it reached 379,000 transactions...Read More
A scalability solution unique to Ethereum is now compatible with Bitcoin. Rollkit allows for the storage of rollup information developed for Ethereum but on the Bitcoin network. According to an official statement, Rollkit — a modular framework for rollups — was successfully launched on march 5, 2023. The solution could, at least in theory, help...Read More
On Feb. 28, Yuga Labs announced Twelvefold, its latest contribution to the world of nonfungible tokens. Riding on the back of the Ordinal inscription craze, the firm unveiled a limited edition collection of 300 generative pieces inscribed on Satoshis on the Bitcoin blockchain. The announcement described the collection nomenclature as: “TwelveFold is a base 12...Read More
