Bitcoin: Assessing the full impact of Ordinal Inscriptions

miners have generated an impressive 1761 BTC, equivalent to approximately $49.9 million, through transaction fees from inscription-related transactions. These fees accounted for around 22% of the total miner revenue from fees, which amounted to $227.8 million since January 23., the cumulative inscription fees have exceeded $53 million as of this writing. However, a closer examination of the daily fee breakdown revealed a recent decline in these fees.

The chart showed a notable surge on 9 May, reaching over 151 BTC, equivalent to more than $4 million. However, as of this writing, the daily fees had plummeted to approximately 4 BTC. This indicated a significant decrease from its previous contribution to fees on the Bitcoin network.network revealed a decline in recent times. Previously, the daily inscriptions reached noteworthy highs.

However, the trend experienced a decrease, although respectable numbers were still observed. As of this writing, the daily inscriptions stood at approximately 1,553.

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