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Tag: Ordinal inscriptions
Bitcoin Hits Second-Highest Transaction Day Amid Price Surge, Record Influx of Ordinal Inscriptions
Bitcoin marked its second most active day for transactions on December 3, 2023, as the cryptocurrency’s value soared past the $40K mark. This surge in activity comes closely after the record-setting day of November 19, 2023, when bitcoin miners validated 710,579 transactions. On Sunday, bitcoin miners authenticated a total of 707,876 transactions during the 24-hour […]
Bitcoin Achieves Lifetime Record With Over 710,000 Daily Transactions Confirmed on Sunday
On Sunday, November 19, 2023, Bitcoin achieved a historic milestone, registering the highest number of daily transactions ever confirmed within a 24-hour span. A significant 710,579 transfers were confirmed by miners that day, including a significant portion of 475,249 Ordinal inscriptions. Bitcoin Hits Lifetime Peak: 710K+ Transactions in 24 Hours This recent weekend marked a […]
Bitcoin Transaction Fees Skyrocket, Reaching Second Highest Point of 2023 Amidst Backlog Woes
On Thursday, November 16, 2023, Bitcoin saw its average transaction fees peak at $18.69 per transfer, marking a high of 0.00051 BTC. This surge represented the second-largest increase in 2023. However, the following day saw a reduction in onchain fees. Despite this, as of 8:13 a.m. Eastern Time, there was a considerable backlog of approximately […]
Bitcoin Hits 40 Million Inscriptions Milestone and Second-Highest Day of Confirmed Transactions
Data reveals a milestone in the Bitcoin blockchain, with a tally of 40 million Ordinal inscriptions etched into its ledger. Inscription records were shattered on November 12, 2023, when a daily peak saw 505,345 inscriptions created in a single day. This burst of activity propelled Bitcoin to new heights, with the day marking a new […]
Bitcoin Fees Climb 150% in 3 Days as Block Space Grows More Expensive
Transaction fees within the Bitcoin network have surged considerably, eclipsing the figures recorded merely three days prior. A transfer deemed high-priority, which formerly cost an average of $3.38, now demands a fee of $8.46. This significant increase was recorded on Thursday, November 9, 2023, at precisely 9:52 a.m. Eastern Time. This upsurge coincides with a […]
Rising Bitcoin Inscriptions activity signals shift in transaction types
The recent analysis of Bitcoin Inscriptions reveals a substantial uptick in activity and interest, a trend that carries notable implications for network performance and user costs. Between Aug. 10 and Nov. 6, 2023, the total count of Bitcoin Inscriptions escalated from 22.66 million to 38.27 million, with Text/BRC-20 inscriptions – which allow for embedding text […]
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Bitcoin’s Transaction Backlog Swells With Latest Inscription Wave, Pushing Fees Up 4,000%
After a quiet period post-September 15, Bitcoin transaction backlogs are surging anew, with a noticeable resurgence of Ordinal inscriptions starting October 24. The number of pending bitcoin transactions in the mempool has surpassed 157,000, prompting a rise in high-priority transaction fees to $3.38. Bitcoin Sees Renewed Congestion, With Transaction Fees Hitting New Highs As of […]
Bitcoin’s Ordinal Inscriptions Surge to Second-Highest Daily Count, Causing BTC Transaction Spike
As September 2023 waned, there was a noticeable dip in the creation of Ordinal inscriptions, but as the month of October closed, a significant rebound occurred. This upward trend peaked on November 4, 2023, when the Bitcoin blockchain recorded the second-highest daily total of Ordinal inscriptions minted within a single day. Second-Highest Bitcoin Inscriptions Recorded, […]
Bitcoin Ordinal Inscriptions Defy Downturn, Embark on Resurgence as Daily Counts Soar
Over the weekend, the cumulative count of Ordinal inscriptions briskly surpassed the 36 million milestone, signaling a departure from the month-long downturn in daily onchain inscription issuances. While the staggering peaks of early September still remain unreached, a discernible resurgence has unfolded since October 25, with daily inscriptions once more eclipsing the 100,000 benchmark. From […]
Bitcoin’s Daily Transactions See Sharp 46% Decline Since Mid-September
Over the past 37 days, since September 15, 2023, the number of daily bitcoin transactions has dropped considerably, with the trend of Ordinal inscriptions experiencing a significant slowdown. In the first two weeks of September, the average number of daily transactions confirmed on the Bitcoin blockchain decreased by more than 46%. 2023’s Bitcoin Transaction Paradox: […]