Bitcoin transactions reach record high as Inscriptions surge
The daily number of transactions on the Bitcoin blockchain reached a new all-time high yesterday when tracked using a seven-day moving average. According to The Block's data, the on-chain metric reached a record high of over 408,000 transactions. The previous record was just over 406,000. Chinese reporter Colin Wu also noticed the record high, citing a seven-day average of 426,337.14 transactions from Glassnode data.
The record-high daily average transaction count on Bitcoin may be related to Inscriptions — which have increased demand for block space on the leading blockchain. Inscriptions are the metadata added to satoshis, the smallest unit of bitcoin. They may include information as digital entries on Bitcoin's distributed public ledger. Daily Inscriptions reached a new all-time high yesterday of more than 223,000, according to data from Dune Analytics. According to Grayscale, the activity surrounding Ordinals and Inscriptions may be good for the OG blockchain. The crypto asset manager wrote that the "unexpected surge in popularity may indicate a shift in the broader perception of Bitcoin, despite its reputation as an ossified blockchain."
Source
https://t.me/Blockchain_Explained
