Similarly, the number of new Bitcoin addresses is steady and has cooled from a spike late last year, likely due to the Ordinals frenzy. The Ordinals protocol allows users to store non-fungible tokens (NFT) on Bitcoin called inscriptions and saw a surge last year in popularity, clogging the network and driving up transaction fees.
Related posts
-
Latam Insights: Paraguay Unveils Bitcoin Mining Centric Development Strategy, Itau Unibanco Rolls Crypto Trading for All Customers
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during... -
Trump Champions Bitcoin Mining, Vietnamese Increase Gold Buying, and More — Week in Review
Former U.S. President Donald Trump expressed support for the bitcoin mining industry, advocating for producing the... -
An Introduction to Bitcoin Ordinals
Bitcoin Ordinals have emerged as a novel way to enhance the functionality and use of Bitcoin,...