Bitcoin Ordinals daily inscriptions surge due to ‘BRC-20 tokens’
The BRC-20 token standard utilizes Ordinal inscriptions to deploy token contracts, mint tokens, and transfer tokens. A new daily all-time high (ATH) has been recorded for the number of Ordinals inscribed on the Bitcoin (BTC) network due to a recently launched “token standard” for the blockchain. Bitcoin Ordinals reached 58,179 inscriptions on April 2, smashing the previous all-time high (ATH) of 31,692 on March 9 by 83.5% according to Dune Analytics data. The surge is believed to be driven by the recent creation of " Bitcoin Request for Comment" (BRC-20) Tokens on the Ordinals protocol by a pseudonymous on-chain analyst named Domo in early March. Daily count of Ordinals inscriptions shown in green. Source: Dune Analytics While Ordinals are nonfungible token (NFT)-like “digital artifacts” which carry data in the form of text, JPEG images, PDFs, video and audio formats on the Bitcoin network, the BRC-20 token standard utilizes Ordinal inscriptions to deploy token contracts, m...