Bitcoin NFT inscriptions saw a significant increase in July, but sales volumes in terms of dollar value decreased due to lower demand. Despite setting a new daily record with over 422,000 inscriptions on July 30, sales volumes for Bitcoin NFTs are expected to be almost 50% lower than the previous month. Ordinals, which allow for the creation of NFTs on Bitcoin, were launched in January. The trading volume for Bitcoin Ordinals in July is expected to be around $65 million, a 50% decrease from June. The increase in inscriptions in July may be attributed to Luminex releasing a modified BRC-20 standard that reduces fees associated with inscriptions.