According to a popular Dune dashboard, on Saturday there were around 223,000 inscriptions made via Ordinals. Over 200,000 inscriptions were made in a single day. A milestone that indicates continued protocol popularity five months after its debut.
Total Number of Inscriptions Thru Bitcoin Ordinal Surpasses 2.5 Million
On Saturday, there was a significant milestone for Ordinals, a technology that inscribes digital assets on the Bitcoin blockchain, creating assets similar to NFTs on Ethereum.
According to a popular Dune dashboard, over 223,000 inscriptions were made via Ordinals on Saturday alone, marking a new daily record and indicating sustained popularity for the protocol since its launch five months ago.
This milestone was surpassed four times in April, with between 72,000 and 193,000 inscriptions recorded between April 2 and April 23. Coinciding with this, blockchain analytics firm IntoTheBlock reports that the volume of Bitcoin transactions is either at or near all-time highs.
Remarkable Milestone
The company reported on Sunday that the weekly average of daily Bitcoin transactions had reached about 396,000, marking the highest level since December 2017. Recent inscriptions on ordinals.com have evolved from a pool of photographs to a wall of words.
A noteworthy milestone has been achieved through the total number of Ordinal inscriptions. The Dune dashboard has recently reported that the number of inscriptions has surpassed 2.5 million.
However, the discovery that Ordinals could be utilized to create fungible tokens on Bitcoin similar to Ethereum has led to a turning point last month.
Domo, a pseudonym, played a key role in this development as he created the “BRC-20” token standard to experiment in the blockchain data space. On Sunday, almost 6,900 tokens were issued using the newly developed standard, as per statistics from brc-20.io. These include many meme coins with multi-million dollar market capitalization.
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