Bitcoin Records Over 12 Million Ordinal Inscriptions, Miners Accumulate $46 Million as BRC20 Market Cap Declines – Bitcoin RSS

As of June 18, the latest figures uncover implicit 12.49 cardinal Ordinal inscriptions person been recorded connected the Bitcoin blockchain. The inscription inclination has yielded important gains for bitcoin miners, who person accumulated 1,732 BTC equivalent to $46 cardinal utilizing today’s speech rates. However, the BRC20 economy, experiencing a important diminution successful value, has suffered the consequences of bitcoin’s caller terms plunge passim the past week.

BRC20 Market Faces Decline arsenic Bitcoin Blockchain Records More Than 12 Million Inscriptions

As of the latest count, determination are implicit 12 cardinal Ordinal inscriptions linked to the Bitcoin blockchain, with the existent tally reaching astir 12,494,695. This sustained inclination has contributed to a backlog of much than 300,000 unconfirmed transactions documented by mempool.space.

On Saturday, bitcoin miners confirmed these types of transactions, arsenic good arsenic accepted fiscal transfers, accumulating a full of 1,737.50 BTC valued astatine $46.10 cardinal from inscriptions. Three days ago, connected June 15, the full fig of Ordinal inscriptions surpassed the 12 cardinal mark.

Present statistics uncover that 90.7% of each inscriptions dwell of plain text, portion the remaining information comprises assorted record formats specified arsenic JPEGs, PNGs, SVGs, GIFs, video files, bundle files, and applications. Out of the wide inscriptions, a important 11,259,647 are composed solely of plain text.

While the number of Ordinal inscriptions continues to increase, the BRC20 system has experienced a important diminution successful value. Present data from brc-20.io indicates that determination are presently 34,296 BRC20 tokens valued astatine $141.97 million.

The BRC20 commercialized measurement wrong the past 24 hours stands astatine astir $25.51 million. Not agelong ago, this BTC-based crypto token system was valued astatine astir half a cardinal dollars. However, the caller downturn successful the crypto marketplace has importantly impacted the values of respective apical BRC20 tokens.

For instance, the token ordi (ORDI) was trading astatine $11.36 per portion on June 3, but contiguous it has plummeted to $6.263 per token. Similarly, the BRC20 token pepe (PEPE) was valued astatine $0.20 per portion connected June 3, but it has present dropped to $0.050 per token.

Despite the sizeable diminution successful the BRC20 marketplace valuation this month, the fig of BRC20 tokens has experienced important growth, expanding by implicit 38% since June 3. Marketplaces specified arsenic Magic Eden, Okx, Ordinals Market, Ordswap, Ordinals Wallet, Open Ordex, Gamma, and Unisat proceed to witnesser active trading of BRC20 and Ordinal inscriptions.

According to information from cryptoslam.io, income of Bitcoin-based non-fungible tokens (NFTs) person decreased by much than 22% successful the past week, totaling $21.49 million successful sales. The 2nd highest-priced NFT sold during this play was Bitcoin-based “uncategorized Ordinal,” fetching $3.52 million.

What are your thoughts connected the continued emergence successful Ordinal inscriptions connected the Bitcoin blockchain and the important diminution successful the BRC20 marketplace cap? Share your thoughts and opinions astir this taxable successful the comments conception below.