Metrics show that Sunday was a big day for the Bitcoin blockchain, as 411,511 ordinal inscriptions were created, making it the second-busiest day ever for inscriptions. Additionally, a sizable 53.9% of all transaction activity on the Bitcoin network over the previous seven days was made up of ordinary inscriptions.
Some #NXTTakeover thoughts. I don't know if more people watched this Takeover on a Sunday than they did when it was on Saturdays. The NBA All-Star Game likely did well. I think WWE likely has metrics that tell them Sunday shows do better than Saturday night.
— John Canton (TJRWrestling) (@johnreport) February 17, 2020
Ordinals’ Unprecedented Impact: 53% of Bitcoin’s Weekly Transactions Defined by Inscriptions
Time travel to Monday, August 21, 8:15 a.m. Eastern Time, where a massive 25,620,164 ordinary inscriptions now adorn the Bitcoin blockchain. On Sunday, the minting of Ordinals reached its second-highest volume ever on the network, with 411,511 inscriptions. The day of July 30, 2023, when a record 422,164 inscriptions were produced in a single day, continues to lead the list.
The enthusiasm around bitcoin thanks to ordinals is unprecedented
Isn’t it wild that the maxis have been INTENTIONALLY BLOCKING THIS and holding bitcoin back for years pic.twitter.com/nxpKe5qHPB
— Udi Wertheimer (@udiWertheimer) February 17, 2023
A recent Dappradar report that claims that sales of ordinary inscriptions have fallen by 97% from their high has stirred up a lot of discussion and controversy. Trevor.btc, a user on X, has questioned its correctness. He cites statistics from Cryptoslam.io and Dune Analytics that reveal a drop of 67% to 68%. In addition, BRC20 activity, a crucial component of the Ordinals inscription trend, was left out of the report, which was challenged by Trevor.btc.
In the words of Trevor.btc
Have the Ordinals accelerated a hype cycle? Absolutely. Is the volume of ordinals much lower than it was at its peak? Yes. Could it fall any lower? Sure. So what, then? The Ordinals market is identical to every other emerging asset in the industry and to what we have observed in other NFT ecosystems. These things occur in cycles and pass away.
Help Dr Almut Gadow stand against indoctrination and for academic freedom! In the words of @Docstockk, Dr Gadow's case has "potentially far reaching repercussions for the University sector". Please read, RT – and if you can, pledge your support below!https://t.co/4yyyGfAeiI pic.twitter.com/wpL8fulEAQ
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Notably, NFT enthusiast and Ord.io creator Leonidas recently called attention to the intense activity surrounding Ordinal inscriptions. “Ordinals accounted for 53.9% of the activity on Bitcoin this week,” he said on Sunday. 1,974,803 ordinal transactions. 3,660,831 bitcoin transactions The only people claiming that ordinary people no longer exist are those who see a threat from them.
Approximately 411,511 of the 612,461 transactions on the Bitcoin blockchain on August 20 were ordinal inscriptions, according to the most recent data from Dune Analytics and ycharts.com. This equates to 67.18% of all BTC transactions that day. As of August 21st, more than 36,000 inscriptions had been identified.