As Ordinal inscriptions approach the 150,000 mark, blocks larger than 3 MB have become commonplace, with many blocks near the 4 MB range. Meanwhile, after the average transaction fee on-chain rose 122% higher at the beginning of February 2023, the average fee has remained the same over the last few weeks and is currently coasting along at $1.77 per transfer.
On Feb. 19, 2023, the number of Ordinal inscriptions is approaching 150,000 after a significant increase in demand since the end of January. A week ago, Bitcoin.com News reported that blocks larger than 3 MB are now commonplace and are being mined regularly. This has increased the average block size, which is calculated by adding up the total of all block sizes mined in a day and dividing the total by 144, which is the average number of blocks mined daily. Statistics from ycharts.com show that the average block size reached a high of 2.525 MB on Feb. 12, 2023.
The average block size has decreased and was 2.114 MB on Feb. 18, 2023. Along with the blocks larger than 3 MB, there are also an increasing number of blocks near the 4 MB range being mined. According to statistics from blockchair.com, a long list of blocks that are 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 of the blocks larger than 3.75 MB have been mined in February.
Average onchain fees for Bitcoin have remained stable after a 122% increase in average fee costs during the first week of Feb. 2023, and have continued to be within the range of $1.7. On Feb. 15, 2023, BTC fees did increase to a high of $2.465 per transfer. As of Feb. 18, 2023, median-sized fees are roughly 0.00003 BTC or $0.744 per transfer. Median fees on Bitcoin have also remained stable after the initial increase during the first week of February.
Only four days ago, the number of Ordinal inscriptions hit 100,000, and now it is steadily approaching 150,000. As of the time of writing, there are approximately 145,630 Ordinal inscriptions embedded into the Bitcoin blockchain.
What do you think about Ordinal inscriptions coming awfully close to reaching 150,000? Share your thoughts in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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As Ordinal inscriptions approach the 150,000 mark, blocks larger than 3 MB have become commonplace, with many blocks near the 4 MB range. Meanwhile, after the average transaction fee on-chain rose 122% higher at the beginning of February 2023, the average fee has remained the same over the last few weeks and is currently coasting along at $1.77 per transfer.
On Feb. 19, 2023, the number of Ordinal inscriptions is approaching 150,000 after a significant increase in demand since the end of January. A week ago, Bitcoin.com News reported that blocks larger than 3 MB are now commonplace and are being mined regularly. This has increased the average block size, which is calculated by adding up the total of all block sizes mined in a day and dividing the total by 144, which is the average number of blocks mined daily. Statistics from ycharts.com show that the average block size reached a high of 2.525 MB on Feb. 12, 2023.
The average block size has decreased and was 2.114 MB on Feb. 18, 2023. Along with the blocks larger than 3 MB, there are also an increasing number of blocks near the 4 MB range being mined. According to statistics from blockchair.com, a long list of blocks that are 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 of the blocks larger than 3.75 MB have been mined in February.
Average onchain fees for Bitcoin have remained stable after a 122% increase in average fee costs during the first week of Feb. 2023, and have continued to be within the range of $1.7. On Feb. 15, 2023, BTC fees did increase to a high of $2.465 per transfer. As of Feb. 18, 2023, median-sized fees are roughly 0.00003 BTC or $0.744 per transfer. Median fees on Bitcoin have also remained stable after the initial increase during the first week of February.
Only four days ago, the number of Ordinal inscriptions hit 100,000, and now it is steadily approaching 150,000. As of the time of writing, there are approximately 145,630 Ordinal inscriptions embedded into the Bitcoin blockchain.
What do you think about Ordinal inscriptions coming awfully close to reaching 150,000? Share your thoughts in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
In 2023, the leading crypto assets, such as bitcoin and ethereum, have captured decent gains. Bitcoin has increased 17.2% over the last 30 days, and ethereum has risen 9.3% in the same timeframe. However, year-to-date statistics show that bitcoin is down 38.3%, and ethereum has lost 39.3% against the U.S. dollar. The following presents a look at 12 crypto assets that have increased in value during the last 12 months.
Crypto assets rebounded in 2023 and are faring much better than they were last year. Out of the top 125 cryptocurrencies in terms of the largest market capitalizations, only 9.6%, or 12 digital currencies, have seen year-to-date gains. The leader among the 12 crypto assets is the native token to the Binance Smart Chain (BSC) game Cyberdragon. The token, called binary x (BNX), has gained 613% against the U.S. dollar since this day last year. BNX is followed by the artificial intelligence cryptoasset singularity net (AGIX), which has gained 277% year-to-date.
AGIX is followed by the Okx exchange token OKB, which has seen an increase of around 169% over the last year. OKB is followed by trust wallet token (TWT), as TWT has gained 162.34% against the U.S. dollar in 12 months. Two tokens associated with liquid staking protocols follow TWT. Lido dao (LDO) has increased by 116%, and rocket pool (RPL) has climbed 80% over the past year. The AI crypto token fetch.ai (FET) rose 30.26%, and quant network (QNT) jumped 27.12% in the 12-month period.
Tron (TRX) is up 10.61% year-to-date, and cdai (CDAI) has increased around 1.65% in the past year. Lastly, the tokens ethereum name service (ENS) and monero (XMR) are up over the last 12 months as well, between 0.54% and 0.77%. A majority of the other crypto assets within the top 125 are down between 10% and 73% from this time last year. Furthermore, while BTC has lost 38% since this time last year, the 12 aforementioned digital currencies have much higher percentage gains against bitcoin than the greenback.
What are your thoughts on the current state of the cryptocurrency market? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Source From : News