On August 20, the number of transactions linked to Ordinals in the Bitcoin network reached 450,785 out of a total of 530,788. Data from Dune show this.
“For all those who claim the death of Ordinals, they account for literally 84.9% of Bitcoin activity. This cannot simply be made up,” wrote the protocol developer under the nickname Leonidas.
Meanwhile, in the past week the share of transactions involving Bitcoin-NFTs stood at 54%.
In total, since the protocol’s inception, about 25.6 million inscriptions have been created, which brought in 1149 BTC ($29.9 million at the time of writing) in fees.
Today, BRC-20 tokens predominate within Ordinals — last week 1.9 million were issued.
Earlier, DappRadar reported that trading volume of Bitcoin inscriptions fell from $452 million in May to $3 million by mid-August. The number of transactions also declined—from 832,648 to 20,571.
According to experts, the coming months will be decisive for the BRC-20 token ecosystem.
In July, the Ordinals platform team Luminex unveiled the BRC-69 standard, which simplifies and reduces the cost of issuing NFT collections.
Earlier, Ethereum co-founder Vitalik Buterin called the appearance of the Bitcoin inscription protocol a signal of returning to the blockchain “creator culture.”