On March 23, the daily amount of fees for issuing NFTs on the blockchain of the first cryptocurrency reached a maximum of 9.28 BTC, according to Dune Analytics.
Ordinals just smashed its prior ATH for daily fees spent inscribing.
$257,460 (9.28 BTC) has been spent on inscription fees today!
Every single inscription is making the Bitcoin network more decentralized and more secure. pic.twitter.com/kV0CgVGnVF
— Leonidas.og (@LeonidasNFT) March 23, 2023
Experts largely attributed the surge in the indicator to the placement of the popular Bored Ape Yacht Club (BAYC) collection from Yuga Labs in image blocks. Original NFT series released on Ethereum.
The Twitter account of the Bitcoin Apes project reported that more than 8,000 BAYC tokens out of a total of 10,000 are already present in the Bitcoin network.
Over 7̶,̶0̶0̶0̶ 𝟴,𝟬𝟬𝟬 @BitcoinApes_ have now been inscribed!
Bitcoin Apes are byte-perfect ordinal inscriptions of the original Bored Apes, 100% on the Bitcoin blockchain
https://t.co/j015ht54Nq #inscriptions #ordinals #ordinalsnft pic.twitter.com/X4VhomuD11
— Bitcoin Apes (@BitcoinApes_) March 23, 2023
According to NFT collector Leonidas.og, BAYC images take up 1 GB of the 466 GB digital gold blockchain.
1 GB of the 466 GB Bitcoin blockchain is now byte-perfect @BoredApeYC images.
Never doubt the ordinal degens.
— Leonidas.og (@LeonidasNFT) March 23, 2023
In total, since the launch of the Ordinals protocol in January, users have issued more than 577,000 bitcoin-NFTs and paid 125.6 BTC (~$3.6 million) in fees for this.
However, images account for a 31.4% share. The most popular is the placement of texts – 42.5%.
Regarding the boom of BAYC in the form of NFTs in the network of the first cryptocurrency Leonidas.og noted:
“Paradoxically, this is really good for bitcoin. Every additional transaction fee paid for these monkeys helps secure the network by providing miners with an additional source of income.”
According to Ordinals Walletthe base price for BAYC in Bitcoin is 0.012 BTC (~$340), while for the original tokens on the platform opensea – 57.95 ETH (~$105,180).
Recall that in March, the marketplace for NFTs on the blockchain of the first cryptocurrency launched the Magic Eden marketplace based on Solana.
Found a mistake in the text? Select it and press CTRL+ENTER
bitcoinlinux Newsletters: Keep your finger on the pulse of the bitcoin industry!
