like BitcoinPrice Rocket, NFT-like ordinal number It’s poised for a quiet comeback, with sales exceeding $19.7 million on major Ordinals marketplaces on Monday. According to data from CryptoSlam, there were over $14 million in sales today.
That number has skyrocketed since the beginning of the month, when daily trading volume was between $5 and $6 million. However, there is still a long way to go to reach the $85 million deal reached last December.
And Magic Eden, a cross-chain marketplace, has again become the best place to secure Ordinals and Dune data. show. Last month, prominent cross-chain NFT marketplaces presentation A new points program for traders that rewards loyal users with “diamonds”.
Scott Norris, an independent Bitcoin miner at Optiminer, explains that this can be a beneficial and symbiotic relationship.
“Ordinal numbers should help increase transaction fees, which existing knowledge suggests should benefit miners,” Norris said. decryption. “The halving will result in some power bills, but the larger utilities are producing their own power and selling it back to the grid when needed.”
The most popular Ordinals collections in Magic Eden are: NodeMonkes, bitcoin dolland RSIC metaprotocol.
The renewed interest in Ordinals comes as the hype surrounding the approval of a spot BTC exchange-traded fund last month saw the price of Bitcoin reach $57,000 per coin today and the largest cryptocurrency network approaches its long-awaited halving event. .
Bitcoin‘S Halving means that miners who process transactions and mint new coins on the blockchain get their rewards cut in half. Miners have to work harder to process transactions when they are already working harder to process Ordinals activity.
Ordinals, NFT-style engravings of individual satoshis, offer a different use case for the largest cryptocurrency networks.
Allows non-financial data, including art, profile photos, and text, to be recorded on the Bitcoin blockchain. to explode The past year has given rise to all kinds of protocols and projects.
Some members of the Bitcoin community are caught up in the new craze. blow up people The reason for using the Bitcoin blockchain to create images is because of the increased transaction costs.
At one point, the cost of sending Bitcoin was at its highest in two and a half years, but costs have plummeted as network congestion has eased.
Edited by Ryan Ozawa.
