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Bitcoin Inscriptions surge: 200k created in one day – yet demand remains minimal

April 24, 2023
in Crypto Exchanges
Reading Time: 2 mins read
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Fast Take

CryptoSlate just lately reported that Inscriptions handed the a million milestone.
A brand new report was set for the largest one-day rely for Inscriptions — roughly 200,000 Inscriptions have been created on April 23.
Nevertheless, the mempool was absolutely cleared at block 786551 — displaying the demand for Inscriptions isn’t there.
Doing a deep dive into this, evidently the rely is coming primarily from textual content and never consultant of photographs. It seems the brand new craze is flooding Inscriptions as texts.

Inscriptions: (Source: Glassnode)
Inscriptions: (Supply: Glassnode)
Mempool: (Source: Mempool.Space)
Mempool: (Supply: Mempool.Area)
Inscription Textual content: (Supply: Ordinals.com)

The submit Bitcoin Inscriptions surge: 200k created in in the future – but demand stays minimal appeared first on CryptoSlate.

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Tags: 200KBitcoinCreatedDayDemandInscriptionsminimalRemainsSurge
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