The use of ordinal inscriptions on the Bitcoin network has surged, with over 5 million inscriptions now recorded. The majority of these inscriptions are text-based, while image-based inscriptions make up a smaller percentage. The market cap of BRC-20 tokens, which include ordinal inscriptions, is currently at $690 million. The popularity of ordinal inscriptions has led to increased network activity, but also higher transaction fees and longer confirmation wait times. Binance has announced plans to add support for Bitcoin Ordinals in its NFT marketplace.
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Bitcoin Ordinal Inscriptions on Fire: Total Count Doubles to 5 Million in Seven Days.
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