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Ordinals
Bitcoin Network Activity Sees Uptick Amid Ordinals Protocol Popularity: Report
Network activity on the Bitcoin blockchain has hit a level not seen since China banned crypto miners in May 2021, according to data from CryptoQuant. The uptick stems from the popularity of the Ordinals protocol, which allows NFTs to be stored on Bitcoin. Okcoin Chief Operating Officer Jason Lau reacts to the report.
Bitcoin Network Activity Hits Two-Year High Thanks to NFTs: CryptoQuant
Okcoin Chief Operating Officer Jason Lau joins "First Mover" to discuss the recent pause in bitcoin's January rally as the largest cryptocurrency by market capitalization trades sideways, staying below the $23,000 level. Plus, insights on the Ordinals protocol boosting network activity on the Bitcoin blockchain to a two-year high, according to a new CryptoQuant report. And, his reaction to LocalBitcoins planning to close down amid crypto winter.
Bitcoin Network Activity Spikes to Two-Year High Thanks to NFTs, CryptoQuant Says
Transactions are coming from the popularity of the recently deployed Ordinals protocol, which allows for NFT-like tokens to be stored on-chain.
Bitcoin NFTs Explode in Popularity as BitMEX Research Shows 13,000 Ordinals
Interest has skyrocketed following the first Ordinals transaction on Dec. 14.
Bitcoin’s Newfound NFT Hype Attracts Interest of BSV Developer Twetch
Twetch has already built a suite of NFT apps on the Bitcoin SV blockchain. So the new push by Ordinals to bring NFTs to the Bitcoin blockchain looks like an opportunity for expansion.
Sam Bankman-Fried Trial Developments; Report Says Ordinals Protocol Triggered Revival in Bitcoin Development
A federal judge rejected a joint request to modify Sam Bankman-Fried's bail conditions to allow him to use certain messaging tools. Separately, research firm FSInsight said in a recent report that the Ordinals protocol has triggered a revival of interest in bitcoin (BTC) development and has led to an increase in average block size as more users join the network.
The Ordinals Protocol Has Caused a Resurgence in Bitcoin Development
The probability of NFTS fueling bitcoin’s next bull run cannot be ignored, the report said.
Bitcoin Network's Block Size Outlook
New Fundstrat data shows Bitcoin's mean block size has increased since the Ordinals protocol, which allows for NFTs to be stored on Bitcoin's blockchain, started to gain traction towards the end of January. Separately, the Bitcoin Lightning Network has reached an all-time high in terms of capacity, or the amount of bitcoin locked in payment channels, according to The Block. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
How Bitcoin NFTs Might Accidentally Fix Bitcoin's Security Budget
Ordinal NFTs have rejuvenated Bitcoin’s transaction fee market. Will it prove useful?
Giant Bitcoin 'Taproot Wizard' NFT Minted in Collaboration With Luxor Mining Pool
Luxor Mining collaborated with independent developer Udi Wertheimer to mint the NFT advertising “Magic Internet JPEGs” in “the largest Bitcoin block ever mined.”
