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Bitcoin Ordinals volume reached $210 million in Q2

Creation of inscriptions ordinal numbers On the Bitcoin blockchain (bitcoinIt resulted in more than $210 million in trading volume, according to DappRadar’s latest quarterly report.
Data independently verified by Cointelegraph shows that the explosion in the popularity of Ordinals led to a sharp increase in trading volume during the second quarter of 2023.
The transaction volume of Ordinals rose from $7.18 million in the first quarter of the year to $210.7 million at the end of June. DappRadar estimates the quarterly increase of 2834%.
The report also highlights how all Ordinals surpassed 550,000 in the second quarter. Nearly 150,000 unique traders contributing to increased trading volume by mid-2023.

Bitcoin Ordinals market data. Source: Dune Analysis

A boards Reflecting several domo users Bitcoin Ordinals market metrics, Dune blockchain analytics also shows that unique users have increased significantly since May 2023. users by market.

Bitcoin Ordinals ranks unique users by market. Source: Dune analytics

The popularity of Ordinals has had an interesting effect on the non-fiscal token (NFT) landscape. towards the end of May, Bitcoin surpasses Solana second most popular NFT blockchainby placing the blockchain behind only Ethereum in NFT transaction volumes.

Related: Bitcoin Ordinals Pass 10 Million Records As Creator Rodarmor Steps Up

Ordinals are also a blessing to the mining industry Your bitcoins. Miners earned around $184 million by mid-2023 and Coin Metrics Highlights the role of Ordinals and BRC-20 tokens in rising feesIt has already surpassed the 2022 total for BTC miners.
during Twitter Area Released on July 6, Ethereum co-founder Vitalik Buterin is also credited with the rekindling of Ordinals.development culture“In the Bitcoin ecosystem.

Translation of Walter Rizzo

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