On February 19, 2023, the number of Ordinal inscriptions is about to reach 150,000 after a huge increase in demand since the end of January. A week ago, blocks larger than 3 MB became popular and frequently exploited. This increases the average block size, which is calculated by adding up all block sizes mined in a day and dividing the total by 144, which is the average number of blocks mined per day. Statistics from ycharts.com show that the average block size peaked at 2,525 MB on February 12, 2023.
Bitcoin continues to record blocks above the 3.75MB range as ordered inscriptions approach 150,000.
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By February 18, 2023, the average block size dropped to 2,114 MB. Along with blocks larger than 3 MB, the number of blocks mined closer to the 4 MB range increases. According to blockchair.com, a long list of blocks with a size of 3.75 MB or larger has been mined. For example, block heights #774.628, #777,302, #776.310, #777.320, and #777,303 are all 3.93 MB or larger. All blocks larger than 3.75 MB were mined in February.
Bitcoin’s average on-chain fees remain stable after a 122% increase in average costs during the first week of February 2023 and continued to remain in the $1.70 range. On February 15, 2023, BTC fees rise to $2,465 per transfer. As of February 18, 2023, the average scale fee is approximately 0.0003 BTC or $0.744 per transfer. Bitcoin’s average fee has also remained steady after starting to rise in the first week of February.
Just four days ago, the number of ordinal inscriptions reached 100,000, but now, it is slowly approaching 150,000. At press time, there are approximately 145,630 sequence number inscriptions embedded in the Bitcoin blockchain.
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