Fun

News Feed - 2023-11-21 11:11:56

Tom Mitchelhill6 hours agoBitcoin transaction fees flip Ethereum’s as Ordinals hype returnsBitcoin transaction fees have soared above Ethereum’s amid a renewed appetite for Ordinals-inscribed assets.2958 Total views14 Total sharesListen to article 0:00NewsJoin us on social networksAverage daily transaction fees on Bitcoin (BTC) have flipped with Ethereum following a frenzy of Ordinals-related activity on the Bitcoin network. 


On Nov. 20, the average daily transaction fee for Bitcoin stood at $10.34, while Ethereum transaction fees came to an average of $8.43, according to BitInfoChart data.


Bitcoin’s average daily trading fee notched a new six-month high on Nov.16, reaching a peak of $18.67, while Ethereum fees reached $7.90.Bitcoin’s average daily fees have surged above Ethereum in the last five days. Source: BitInfoCharts


The sudden uptick in Bitcoin transaction fees stems from a renewed market appetite for assets inscribed with the Ordinals Protocol — a tool for creating nonfungible token (NFT)-like assets and BRC-20 tokens on Bitcoin.


Following a significant lull in activity between Sept. 25 and Oct. 23, Ordinals-based assets saw a drastic uptick beginning in late October, according to Dune Analytics data.The number of Ordinals inscriptions grew by over six million since late October. Source: Dune Analytics


Related:Bitcoin Ordinals team launches nonprofit to grow protocol development


Since Oct. 24, over six million Ordinal assets have been created, resulting in more than 800 BTC in fees — worth roughly $30 million — being redistributed to the network.


The uptick in Ordinals inscription activity compounded as ORDI — the second largest BRC-20 token by market cap — was listed on Binance on Nov. 7. The listing spurred a wider wave of BRC-20 buying activity from traders with the price of the ORDI token jumping by just over 50% on the day.


Additionally, on Nov. 17, the Ordinals-based project Taproot Wizards announced a $7.5 million seed round.


Magazine:I spent a week working in VR. It was mostly terrible, however…# Bitcoin# Ethereum# Fees# NFT# Transaction Fee# Bitcoin OrdinalsAdd reactionAdd reactionRead moreExpect some crypto companies to fail in the wake of Bitcoin"s halvingWhat are NFT DApps, and how to create and launch one?Elon Musk slams NFTs but ends up arguing the case for Bitcoin Ordinals

News Feed

Blockchain for Good Alliance launches at Blockchain Life Dubai
Tristan Greene4 hours agoBlockchain for Good Alliance launches at Blockchain Life DubaiThe alliance is joined by Bybit Web3, Solana Foundation, Aptos, Moledao, Harvard Blockchain Club, and numerous other organizations.50
Amaka Nwaokocha12 hours agoBinance faces calls for ban by Nigerian Bureau De Change associationGwadabe reportedly emphasized that Binance trading has increasingly established itself as a central point for both the Invest
Dogecoin Eyes $1 Milestone: Is A $100 Billion Market Cap Next?
Este artículo también está disponible en español. The cryptocurrency known for its climb fueled by memes, Dogecoin (DOGE), is slowly approaching crucial price points that
Navigating post-halving landscape: What to expect for Bitcoin price and network security
Tristan Greene5 hours agoNavigating post-halving landscape: What to expect for Bitcoin price and network securityWith the April Bitcoin halving looming, the future is as uncertain as ever.10598 Total views3 Total sharesL
Enjin Coin Becomes the First Gaming Cryptocurrency Approved by Japanese Regulators
Enjin Coin Becomes the First Gaming Cryptocurrency Approved by Japanese Regulators Enjin coin became the first gaming cryptocurrency approved in Japan after clea
Bitcoin Needs $140K To Match Peak Profits, On-Chain Data Shows
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Coinbase's Base could make it the NVIDIA of DeFia
Violeta Todorova1 hour agoCoinbase"s Base could make it the NVIDIA of DeFiaCoinbase"s stock price has surged since the company"s first-quarter earnings report. Will its Base offering be enough for investors to sustain th
NFT Sale Starts December 17, 00:00(EST) | Check out the New KV and Sale Information | Entertainment DAO Project ‘SUPER SAPIENSS’ by Three Directors Representing Japan
NFT Sale Starts December 17, 00:00(EST) | Check out the New KV and Sale Information | Entertainment DAO Project "SUPER SAPIENSS" by Three Directors Representing Japan press release
SEC drops Ethereum investigation to avoid ‘embarrassing’ court case
Daniel Ramirez-Escudero36 minutes agoSEC drops Ethereum investigation to avoid ‘embarrassing’ court caseGary Gensler’s SEC has halted its investigation into whether Ether is a security. What could have motivated th
Silvergate Bank Terminates Crypto Payments Network as Shares Plunge to Record Low
Silvergate Bank Terminates Crypto Payments Network as Shares Plunge to Record Low Silvergate Bank has discontinued its cryptocurrency payments network. The decision to shut down Si
Brazilian Asset Manager Kinea Makes Exploratory Investment in Ethereum
Brazilian Asset Manager Kinea Makes Exploratory Investment in Ethereum One of the biggest asset managers in Brazil, Kinea, disclosed it made an exploratory investment in Ethereum.
Bitcoin’s Risk Factor Remains High, Crypto Analyst Notes
Este artículo también está disponible en español. A crypto analyst believes that Bitcoin remains a very risk-on asset that is linked to the shifts in the macroeconomic la