The number of Bitcoin ordinal inscriptions has exceeded 10 million, with the majority of them made in the past month. These inscriptions have generated 1,593 BTC in fees, valued at around $44.3 million, and more than 80% of them are related to the BRC-20 token standard. There was a surge in ordinal activity in May, with daily inscriptions peaking at 400,000 and causing the Bitcoin network to slow down. Despite some BTC core developers referring to ordinals as network spam, the protocol has become the most popular way to mint new assets or inscribe data on the Bitcoin blockchain.
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