Reportedly, Ordinals achieved an additional daily inscription of about 3000,000
With insights from Grayscale, a cryptocurrency investment firm, the Bitcoin Ordinals or Bitcoin NFTs can encourage Bitcoin investors to invest in Bitcoin and boost mining fees, stated Cointelegraph.
On April 27, 2023, reports from the “Market Byte” blog post, mentioned that Ordinals could provide two-way opportunities that would help the Bitcoin ecosystem to improve and grow, Cointelegraph highlighted.
According to reports from Grayscale, “The advent of ordinals has led to an increase in total fees paid to miners […] which could potentially establish a sustainable baseline level of transaction fees to incentivize miners.” It is expected that ordinals would also provide “continued network security throughout the lifetime of the Bitcoin network.”
Furthermore, on April 30, 2023, Ordinals achieved an additional daily inscription of about 3000,000. Sources revealed that during this time the number of Bitcoin transactions also increased, concluded Cointelegraph.
(With insights from Cointelegraph)
Source:financialexpress.com