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Will Ordinals Inscriptions Fuel Bitcoin’s NFT Renaissance? – CryptoSaurus


Journalist

Posted: November 20, 2023

  • The volume of Ordinals inscriptions began to rise again above 100,000 at press time.
  • Despite the decline, ORDI remained above its listing price.

inclusion of ordinals According to recent data, there has been a renewed interest in staking due to the token listing on exchanges. Additionally, these inscriptions have reshaped the NFT sector with Bitcoin [BTC] Ordinals NFTs are taking the lead as of press time.

Ordinals remains active

Despite experiencing a notable decline in activity a few months ago, Bitcoin ordinals inscriptions continued. A recent check of daily intake Dune Analytics Indication of resurrection.

The data showed that, with only a few exceptions, the daily number of inscriptions has consistently remained above 100,000. Also within a day it has increased to more than five lakhs.

At the time of this writing, daily subscriptions number more than 400,000. This renewed interest can be partly attributed to ORDI listings on exchanges.

How has ORDI performed since listing?

Analysis of the daily time-frame chart for ORDI indicates a continued positive price trend. Despite facing declines, the chart showed that it remained above its initial listing price.

According to the price range tool, there has been a significant increase of more than 70% from its listing price. The token was trading at around $22.8, which represents a slight decline of about 5%.

general daily price trend

Source: TradingView

Bitcoin Ordinals NFTs now dominate trading volume

According to the data of cryptoslamInspired by NFT ordinals The highest daily sales volume has been recorded in the last 24 hours. The observed data indicates that these NFTs have claimed the top ten spots in daily volume.

The Rats BRC-20 NFT collection was leading this growth, with a daily sales volume of nearly $4 million at the time of this report. This collection contains over 1,000 transactions involving over 600 buyers and sellers.

how much is it Today’s value of 1,10,100 ORDI,

Furthermore, the impact of these NFT collections has changed Bitcoin First time in NFT ranking. According to CryptoSlam, the Bitcoin network was at the top spot in NFT sales at press time.

Bitcoin’s daily sales volume was more than $38 million, higher than even established NFT networks like Ethereum [ETH] and solana [SOL],

source: eng.ambcrypto.com



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