Bitcoin NFTs Popularity Rising

February 09,2023 Story: Divya Sinha

As per BitMEX research, Bitcoin NFTs are gaining popularity.

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It was identified that more than 13,000 Ordinals were minted between Dec 14 and Feb 7.

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Reportedly in just a few weeks, the inflow of JPEGs and other media files has consumed 526 MB of Bitcoin blockspace usage.

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The blog post detailed that the total spend of these transactions is 6.77 BTC.

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When the total number of Ordinals transactions is plotted graphically, it shows that NFT activity on Bitcoin is growing.

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However, it is to be noted that adding NFTs to the Bitcoin network has sparked a debate in the cryptocurrency community.

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Some are in support of the idea and some are concerned about the potential consequences.

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