Bitcoin Ordinals may have proven naysayers wrong- Here’s why

ambcrypto.com:

Quite a number of people cast doubts over the long-term relevance of Bitcoin [BTC] Ordinals after it launched in January.

The reason for this was because of the projection that miners would hesitate to work on NFTs within the Bitcoin network. But the recent landmark hit on 9 March, might have put an abrupt end to the skepticism. 

How much are 1,10,100 BTCs worth today ?

According to Dune Analytics, the number of Ordinals Inscriptions minted on the aforementioned data hit an All-Time High (ATH) of 31.692. The new frontier on the Bitcoin blockchain now has 392, 495 Inscriptions since inception.

Source: Dune Analytics

These digital assets range from texts, audio, and applications to images. However, Inscriptions was able to reach the milestone mostly because of the text carving dominance. 

This was because the information from the public blockchain tracker revealed that others were far off from reaching the share text Inscriptions gained. 

Moreso, most of the Inscriptions appeared after the BRC-20 execution. The BRC-20 offers a way for Ordinals users to mint and transfer their assets within the Bitcoin blockchain.

Source: Dune Analytics

This hike meant that the BRC-20 chain on which the NFTs minting takes place has appreciated in user count. Although still in the experimental stage, the BRC-20 is a reflection of the Ethereum [ETH] ERC-20 standard.

Additionally, the rise in adoption could be linked to the public revelation of how to go about minting Ordinals and creating fungible assets on the blockchain.

It only took 6 weeks for people to figure out how to use ordinals to make fungible meme coins. At this