Minted Bitcoin Ordinals Inscriptions Increase after 1-Month Decline
In the recent month, the number of minted Bitcoin Ordinals has gone through a slump. Nonetheless, the latest statistics disclose that the respective figure has again spiked recently. On the 22nd of this month, the cumulative number of minted Inscriptions was recorded as 99,700, as per the statistics provided by the crypto analytics firm Dune.
Bitcoin Ordinals Inscriptions Spike in Number Following a 1-Month Downturn
In addition to this, the latest block “786649” has achieved a high of up to 4,577 Inscriptions that are inscribed within one block. Nonetheless, in the recent couple of months, the secondary market of Ordinals has been witnessing the lowest point in terms of its trading volume. In this respect, Galaxy Research has estimated that the market of Ordinals will see considerable growth.
As per the platform, the respective market will reach a valuation of up to $4.5B cumulatively by the year 2025. The country that is making great endeavours in this respect is El Salvador. It has also turned Bitcoin into legal tender. Its implementation of exclusive ideas in this field can prove to be very assistive in this matter. El Salvador’s recent project called Bitcoin City is of great importance in all this.
Local Ordinals Protocol of Bitcoin Sees a Bug Hindering Validation of 1,200 Inscriptions
A few days back, the community began a discussion on the solution to a code bug discovered in the Ordinals protocol of Bitcoin. The respective bug prevented the validation of more than 1,200 inscriptions. The bug was caused by the protocol’s indexer function by just counting inscriptions existing in the initial input of a transfer submitted up to as well as taking into account the protocol’s 0.5.1 version.
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On the 8th of April, the Bitcoin Ordinals inscriptions moved beyond the 1M mark, as per Dune. The reports pointed out that the inscriptions witnessed a record of more than 76,300 on the 4th of April. Ordinals are known as the digital artifacts on the network of the primary crypto Bitcoin. They are analogous to non-fungible tokens (NFTs).
The respective artifacts take into account several types of formats such as audio, video, PDFs, or images. According to the statistics, the top NFT brands have been making great efforts dealing with Bitcoin Ordinals. Bugatti and Bored Ape Yacht Club are known as the platforms that have already adopted this technology.