Bitcoin Ordinals break daily inscriptions record, but trading nosedives

Ordinals, which wereBitcoin inscriptions daily volume. Source: DuneCryptoSlam! trading data shows that Bitcoin Ordinal trading volume in July will likely post a total of about $65 million, a nearly 50% decrease from June when volumes neared $120 million.

The average sales price and number of buyers also declined over the period to about $460 per Ordinal and roughly 27,000 unique buyers, down from $604 per Bitcoin NFTs with more than 54,000 buyers. July’s spike in inscriptions despite depressed trading is likely due to Luminex, an Ordinals launchpad, BRC-20 standard earlier this month that helps reduce fees associated with inscriptions, The Block Research Analyst Rebecca Stevens said.© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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