A total of 400,000 new Ordinal Inscriptions were added to the Bitcoin blockchain on Aug. 7.
According to data from Glassnode, this is the second-highest number of new Inscriptions added in a 24-hour window. The previous high was recorded at the end of July when around 420,000 new Inscriptions were added.
Ordinals represent digital assets, similar to NFTs, inscribed on Bitcoin’s smallest denomination — the satoshi. Inscriptions saw a huge spike in popularity when launched at the beginning of the year, eventually leading to a massive increase in transaction fees that grew mining profitability.
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