Bitcoin Ordinals’ total mintage fees increase 700% from April: Report

Source: Dune Analytics In contrast to conventional NFTs, which are constructed utilizing smart agreements and hosted on options such as IPFS, BitKeep developers described that “Ordinals reside totally on the Bitcoin blockchain and do not need a sidechain or separate token.”In January 2023, Web 3.0 designer Rodarmor released the Bitcoin Ordinal theory structure. Web 3.0 developer domo developed the BRC-20 Bitcoin token requirement in March 2023 that uses both Ordinals and Inscriptions to create and manage token agreements, token minting, and token transfers on Bitcoin. Given that then, over 8 million Bitcoin Ordinals have been minted, along with 24,677 BRC-20 tokens developed, boasting an overall market cap of $612.5 million. On May 20, cryptocurrency exchange OKX announced the listing of the ORDI BRC-20 token, the most popular in such category with a market cap of over $300 million. Magazine: Ordinals turned Bitcoin into an even worse version of Ethereum: Can we repair it?

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