Ups and downs are normal in the crypto world, and so are Bitcoin ordinals. After half a month of decline, the number of Bitcoin ordinal inscriptions has recently rebounded. According to the data provided by Dune.com, on April 22, a total of nearly 99,700 inscriptions were cast, a record high.
#BitcoinOrdinals Mintage surges, but secondary market volume hits two-month low https://t.co/Kh3DsxR00H
— Kyptos (@azcoinnews) April 24, 2023
Among the total number of casting inscriptions, casting characters account for 78%, which shows the popularity of text inscriptions among users. The increase in the number of minted inscriptions can be attributed to the growing interest in the cryptocurrency market, especially Bitcoin. Investors want to invest in Bitcoin, and Ordinals offers them a unique way to invest.
Source: Dune.com
In addition to the increase in the number of inscriptions minted, block 786649 recently hit a new high with 4577 inscriptions in a single block. This further strengthens the position of the Bitcoin ordinal in the crypto market.
Source: Dune.com
Not all is good news, however, as regular secondary market volumes have hit a two-month low. This may be because the market is still recovering from the recent decline and investors are still hesitant to invest in the secondary market.
The increase in the number of minted glyphs is a positive sign for the crypto market despite the low transaction volume. Bitcoin Ordinals offer investors a unique and innovative way to invest in Bitcoin, and the increasing popularity of textual inscriptions among users has further strengthened its position in the market.
Overall, the recent increase in the number of serial number inscriptions minted is a positive development for the crypto market. This shows that investors are still interested in investing in Bitcoin, and that the unique features offered by Bitcoin Ordinals continue to entice them. However, the sluggish trading volume in the secondary market shows that investors are still hesitant, and it will take time for the market to fully recover.
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Mr. teacher
according to Kyptos
