The number of Bitcoin Ordinal entries on the blockchain is approaching 19 million, a trend that has continued for the past 218 days since December 16, 2022. Statistics indicate that miners have accrued approximately 1,847.66 BTC in fees, worth approximately $55.29 million, confirming the millions of Ordinal inscriptions.
Ordinal inscriptions of Bitcoin nearly 19 million
As of July 22, 2023, at block height 799,830, approximately 18,599,837 Ordinal inscriptions have been issued on the bitcoin blockchain. The trend has continued to rise since the first registration 218 days ago. Archived statistics from Dune Analytics indicate that 78.5% of all inscriptions struck on Bitcoin are in plain text or character sets, while an additional 13.5% are plain text, bringing the total of plain text and character set inscriptions to 92%. The rest of the inscriptions are images, GIF files, animations, applications and more.
The number of registrations per block has increased.
The largest number of daily ordinal inscriptions occurred on May 7, 2023, with 400,091 inscriptions. There were 385,920 on July 9, 385,604 on July 16, and 323,964 on July 18. In addition to daily ordinal enrollments, the number of enrollments per block increased significantly in July. Single blocks, including block height 797,976 and block height 798,795, confirmed more than 5,000 registrations. While Ordinals fees had their biggest increase on May 7 and 8, they have since stagnated.
The fees miners have accrued for confirming ordinal inscriptions since December 2022.
Data shows that people are paying less to confirm about the same number of enrollments as in May, despite the continued push to enroll. However, the higher rates are missing. At block height 799,832 on July 22, there are more than 300,000 unconfirmed transactions on the bitcoin blockchain. While a low priority transaction costs 71 cents, a high priority transaction costs the sender about $1.88 or 0.000063 BTC. Both financial transactions and Ordinal subscriptions together contribute to the backlog of transactions.
Statistics recorded by cryptoslam.io show that $98.85 million in nonfungible token (NFT) sales have been recorded in the past 30 days. In the past month, the bitcoin blockchain has the second highest number of sales out of 22 different blockchain networks, but sales are more than 13% lower than the previous month. Only two bitcoin-based NFT collections are among the top 10 in terms of 30-day sales. The bitcoin collection, known as Uncategorized Ordinals, was the second largest in terms of the past month, with $41 million.
