Bitcoin

DeFi

April

Rise

<p>The Bitcoin network has just reached a major milestone with over 65 million ordinal inscriptions recorded to date. This mass adoption has generated colossal network fees, exceeding $458 million.</p>
<h2 id="h-the-meteoric-rise-of-ordinals-inscriptions">The Meteoric Rise of Ordinals Inscriptions</h2>
<p>Less than two years after their launch in January 2023, Ordinals inscriptions on Bitcoin have reached a record high on April 11th, surpassing 65 million in total, according to <a href="https://dailycoin.com/bitcoin-hits-record-65-million-ordinals-inscriptions-to-date/" target="_blank" rel="noopener noreferrer nofollow">data</a> from Dune. This enthusiasm is due to the appeal of Ordinals, these unique digital assets inscribed on a single Satoshi, the smallest unit of bitcoin.</p>
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<p>Made possible by the Taproot update of November 2021, ordinal inscriptions have to date generated over $458 million in network fees, a real windfall for miners as the <a href="https://www.cointribune.com/en/is-the-bitcoin-halving-losing-its-influence-on-the-btc-price/" target="_blank" rel="noopener noreferrer nofollow">approach of the halving</a>, which will cut their block rewards in half.</p>
<p>This trend falls within the broader context of decentralized finance on Bitcoin (BTCFi), a new paradigm aiming to integrate DeFi functionalities directly within the network. If the current pace of adoption continues, Ordinals could well compete with Ethereum-based DeFi innovation in the long term.</p>
<h2 id="h-bitcoin-on-the-brink-of-a-new-defi-era">Bitcoin on the Brink of a New DeFi Era?</h2>
<p>In light of this excitement, many players in the blockchain ecosystem are already positioning themselves to seize this promising opportunity. This is particularly true for Tron, which unveiled its layer 2 solution strategy for Bitcoin as early as February.</p>
<p>The goal is to facilitate the use of Ordinals in a wide range of DeFi services, from lending markets to derivative platforms. The development of dedicated layer 2 solutions could thus enable a seamless integration of Ordinals into decentralized finance.</p>
<p>The symbolic milestone of 65 million ordinal inscriptions marks a pivotal moment for Bitcoin. This massive adoption opens new perspectives, particularly in the field of decentralized finance.</p>
<p>However, the future of Ordinals and their impact on the crypto ecosystem will depend on numerous parameters, especially regulatory developments and Bitcoin’s ability to establish itself as an indispensable DeFi platform.</p>

Bitcoin Surpasses 65 million Ordinals Subscriptions, a Historical Record!

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Cointribune EN

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