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Bitcoin Ordinals haven’t wrestled blockspace from money TXs: Glassnode

Published 09/27/2023, 01:25 AM
Updated 09/27/2023, 03:00 AM
© Reuters.
BTC/USD
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Despite concerns that Bitcoin Ordinals are clogging the network, there is little evidence to suggest inscriptions are taking blockspace away from higher-value Bitcoin (BTC) monetary transfers.

“There is minimal evidence that inscriptions are displacing monetary transfers,” on-chain analytics firm Glassnode explained in a Sept. 25 report.

Inscription fee share between images, text, audio, video and other data types on Bitcoin. Source: Glassnode.

More inscriptions means more revenue — but there’s a catch

Continue Reading on Coin Telegraph

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