Bitcoin Ordinals volume hits $210M in Q2 – DappRadar

The production of nonfungible token inscriptions on the Bitcoin (BTC) blockchain has actually led to over $210 million of trading volume for Bitcoin Ordinals, according to the latest quarterly report from DappRadar.The data, which has been individually validated by Cointelegraph, shows that Bitcoin Ordinals growing appeal led to a sharp boost in trading volume through the second quarter of 2023. Near the end of May 2023, Bitcoin exceeded Solana to end up being the second-most popular NFT blockchain, leaving the preeminent cryptocurrency blockchain behind Ethereum alone in terms of assisting in NFT trading volumes.Related: Bitcoin Ordinals go beyond 10M inscriptions as developer Rodarmor steps downOrdinals have actually likewise been an advantage to the Bitcoin mining market. BTC miners have actually netted around $184 million through the very first half of 2023, with Coin Metrics highlighting Ordinals and BRC-20 tokens for their function in the increase to fees which has already gone beyond the 2022 total for BTC miners.Ethereum co-founder Vitalik Buterin likewise credited Bitcoin Ordinals for reigniting a “builder culture” in the Bitcoin ecosystem in a Twitter Space broadcast on July 6.

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