http://jaberwalk.victoryc.hop.clickbank.net/
Average daily transaction fees on Bitcoin (
$60,869.00 ) (BTC) have flipped with Ethereum (
$1,567.85 ) following a frenzy of Ordinals-related activity on the Bitcoin ( $60,869.00 ) network.
On Nov. 20, the average daily transaction fee for Bitcoin ( $60,869.00 ) stood at $10.34, while Ethereum ( $1,567.85 ) ’s transaction fees came to an average of $8.43, according to BitInfoChart data.
Bitcoin ( $60,869.00 ) ’s average daily trading fee notched a new six-month high on Nov.16, reaching a peak of $18.67, while Ethereum ( $1,567.85 ) fees reached $7.90.
Bitcoin ( $60,869.00 ) ’s average daily fees have surged above Ethereum ( $1,567.85 ) ’s in the last five days. Source: BitInfoCharts
The sudden uptick in Bitcoin ( $60,869.00 ) 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 ( $60,869.00 ) .
Following a significant lull in activity between Sept. 25 and Oct. 23, Ordinals-based assets saw a drastic uptick beginning in late October, per Dune Analytics data.
The number of Ordinals inscriptions grew by over 6 million since late October. Source: Dune Analytics
Related: Bitcoin ( $60,869.00 ) Ordinals team launches nonprofit to grow protocol development
Since Oct. 24, over 6 million Ordinal assets have been created, resulting in more than 800 BTC in fees — worth $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…
