📈 BTC Ordinals Resurgence

Bitcoin Ordinals, the groundbreaking technology that allows users to inscribe information onto Bitcoin's sats, is experiencing a resurgence in popularity.

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Ordinal Hive
July 13, 2023

Good morning:

Today's edition:

  • 📈 BTC Ordinals Resurgence

  • ✅ Vitalik Buterin Is Embracing BTC Ordinals As...

  • 💡 Recursive Inscriptions Explained

  • 🪙 Bitcoin's Ordinals Challenge Ethereum's Throne

  • 🎮 Sega Is Licensing An ‘Immensely Popular’ IP For A New Web3 Game (Video)

  • 🍎 It’s Way Too Soon For A Marriage Of AI And Web3 (Blockworks)

  • ⚠️ Web3 Games Don’t Need To Highlight Blockchain Elements To Succeed (TechCrunch)

  • 🚘 Car-sharing Revenue Could Be A First Step To Mainstream Adoption (TechCrunch)

  • 🪙 Daily Ordinals Inscriptions Approach All-Time High As BTC Fees Remain Low (Decrypt)

  • 📉 Bored Ape Owners Sent Broke After NFT Price Collapse (AFR)

Bitcoin Ordinals Resurgence

Bitcoin Ordinals, the groundbreaking technology that allows users to inscribe information onto Bitcoin's sats, is experiencing a resurgence in popularity. With a milestone of 350k daily new inscriptions reached recently, Ordinals is gaining momentum once again. The launch of the BRC69 token standard, which lowers the costs of inscribing sats, is believed to be a driving force behind this renewed interest.

Here are the quick facts:

  • Bitcoin Ordinals, enabling inscriptions on Bitcoin sats, is seeing a resurgence in popularity.

  • The milestone of 350k daily new inscriptions indicates a renewed interest in the technology.

  • The launch of the BRC69 token standard reduces the costs of inscribing sats, attracting new participants.

  • Bitcoin Ordinals' resurgence may revitalize the struggling NFT sector, providing a cost-effective alternative.

  • Bitcoin is the pioneering decentralized digital currency created in 2008 by Satoshi Nakamoto.

Vitalik Buterin Embraces Bitcoin Ordinals as a Return to Builder Culture

Ethereum co-founder Vitalik Buterin praises Bitcoin Ordinals and the BRC-20 token standard, seeing them as a revitalization of builder culture and a rejection of stagnant politics in the Bitcoin ecosystem. The comments were made during a Twitter Space conversation where Buterin discussed what Bitcoin developers could learn from Ethereum.

Here are the quick facts:

  • Buterin commends Ordinals for bringing back a culture of action and pushing against the laser-eye movement in the Bitcoin community.

  • The conversation delved into scalability issues, with discussions on implementing layer-2 solutions and utilizing zero-knowledge rollups for smart contracts.

  • The debate between proponents of Ordinals and critics who argue it dilutes Bitcoin's primary function as a peer-to-peer cash network sparked controversy within the Bitcoin community.

Recursive Inscriptions Explained

Recursive Inscriptions are shaking up the Bitcoin NFT scene by enabling interconnected data within the Ordinals Protocol, expanding possibilities for on-chain software execution and storage efficiency.

Here are the quick facts:

  • Recursive Inscriptions build upon the Ordinals Protocol, allowing developers to create intricate webs of interconnected data on Bitcoin.

  • This innovation promises benefits like reduced transaction costs, improved storage efficiency, and the potential to host complex files on the Bitcoin blockchain.

  • Critics raise concerns about dependencies and scalability, but the allure of increased functionality and broader adoption keeps the excitement alive.

Bitcoin’s Ordinals Challenge Ethereum’s Throne

Bitcoin's native non-fungible tokens (NFTs), known as "Ordinals," are gaining ground in the NFT market and are poised to overtake Ethereum. With a remarkable 129.50% growth in USD sales and nearly 10% of the buyer market, Ordinals are closing in on Ethereum's dominance.

Here are the quick facts: 

  • Bitcoin's Ordinals are experiencing remarkable growth, with a 129.50% increase in USD sales.

  • Ethereum remains the current NFT market leader with over $24 million in sales, but the rise of Ordinals suggests a potential shift in the future.

  • Solana has shown strong sales growth of 44.61% and has attracted a significant share of buyers.

  • Polygon follows closely behind with a sales increase of 30.75%.

  • The BNB Chain and Cardano also have notable sales figures, contributing to the diverse NFT market landscape.

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