The cumulative casting volume of the Bitcoin NFT protocol Ordinals exceeded 400000 pieces and the cost exceeded 1.6 million US dollars

It is reported that the latest data from Dune Analytics shows that the cumulative number of NFT inscriptions on the Bitcoin NFT protocol Ordinals has exceeded 400000, reaching 429682 so far, and the total cost incurred so far has reached about 79 BTC (about $1622000). The historical data shows that the casting quantity of Ordinals inscription NFT reached 200000 pieces at the end of February, which means that the increase in the month has exceeded 100%.

Interpretation of this information:

The latest data from Dune Analytics has revealed that the cumulative number of NFT inscriptions on the Bitcoin NFT protocol Ordinals has exceeded 400,000, marking a significant milestone for NFTs. The total cost incurred so far is estimated at around 79 BTC, equivalent to $1,622,000.

The data further reveals that the casting quantity of Ordinals inscription NFT reached 200,000 pieces at the end of February, indicating a 100% surge in NFT inscription during the month. These statistics confirm the massive growth in the NFT market, as more and more investors are gaining interest in the sector.

An NFT or Non-Fungible Token is a digital asset that represents ownership of a unique asset or an item in the form of artwork, music, or even tweets. The rarity and uniqueness of these digital assets make them highly valuable, attracting a significant amount of investment in recent years.

Bitcoin NFT Protocol Ordinals is one of the most popular NFT platforms for creating and trading non-fungible tokens. The platform allows users to mint NFTs using the BItcoin protocol, rendering the NFTs rare and unique. The non-fungible tokens on this platform have gained significant recognition among collectors, who purchase them for their rarity, uniqueness, and bragging rights.

The statistics from Dune Analytics highlight the increasing popularity of the NFT market, as investors gain more interest in blockchain technology and digital assets. The high demand for NFTs may also be attributed to their digital nature, which allows them to be easily traded, transferred, and stored.

The NFT market has been on the rise since the beginning of the year, with notable sales including a digital artwork selling for $69 million and Twitter founder Jack Dorsey’s first tweet selling for $2.9 million. The market’s potential for growth is enormous, as more investors continue to seek ways to diversify their portfolios.

In summary, the latest data from Dune Analytics indicates that the cumulative number of NFT inscriptions on the Bitcoin NFT protocol Ordinals has skyrocketed to 429,682. The total cost incurred so far is estimated at about $1,622,000. The drastic increase in NFT inscription, which exceeded 100% in February alone, confirms the widespread adoption of NFTs in the investment world.