Bitcoin Fees Soar Above Ethereum’s As Investors Flock To Ordinals-Backed Assets
CryptoFees data shows that Bitcoin daily fees averaged $10.65 million from November 16 to November 18, surpassing Ethereum’s average fee of nearly $7 million for the same period. Until 2024, the US Securities and Exchange Commission (SEC) is deferring decisions on several Bitcoin ETF applications, despite the market’s increasing optimism about the approval of a spot Bitcoin exchange-traded fund (ETF) in the US. This hesitation has coincided with a remarkable surge in the top crypto’s average transaction fees, soaring over 1,000% to reach a peak of $18.67 on November 16,....
Related News
The latest data on August 22 shows that the total daily fees generated from Bitcoin Ordinals on the world’s most valuable network have crashed from around $95,000 to $72,000, a 24% drop. The contraction mirrors the general performance of BTC prices which have been under pressure in the last two weeks, notably crashing last week and forcing […]
A leading figure in the Bitcoin Ordinals movement has threatened to bankroll an alternative version of the reference Bitcoin software if Bitcoin Core tightens default relay policy to the detriment of Ordinals and Runes transactions. In an “open letter to Bitcoin Core” posted on September 6, Leonidas — host of The Ordinal Show and a […]
Bitcoin prices are now trading above $30,000 for the first time in over eight months. The rally coincides with the discovery of an indexing bug in Ordinals protocol, a platform where users can mint non-fungible tokens (NFTs) on Bitcoin. The 1,200 Orphaned Inscriptions On Ordinals Protocol The bug in the Ordinals protocol was discovered to have led to approximately 1,200 inscriptions that were supposed to be included in Bitcoin being excluded though they were all valid. These “orphaned” inscriptions were because the indexing flaw only caused the protocol to pick out inscriptions in the....
Over the last decade, the definition of payments has drastically changed, with the good old currency notes taking the back seat as more and more people flock towards electronic payments. However, electronic payment methods weren’t perfect either as financial institutions slapped high processing fees for such transactions, not to mention the delays one continues to […]
Ordinals are a relatively novel innovation within the crypto space, but ORDI, the cryptocurrency with the Ordinals namesake, is within the grasp of the bears. According to the latest market data provided by CoinCodex, the token is down nearly 5% within the last 24 hours despite Bitcoin making an 11% gain within the past week. Related Reading: Here Are 5 Reasons To Be Bullish On Bitcoin, Analyst Says Up And Down The Rabbit Hole Even though the market seems bullish for Bitcoin and the market as a whole, Ordinals seem to go against the grain. Analysts are hopeful that ORDI is on the path to a....