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Reduced Impact of Ordinals Inscription on Bitcoin Network's High Gas Fees, Potential Slowdown in Growth

The Bitcoin network has been facing high gas fees due to the growth of Ordinals inscription, which still accounts for 26% of Bitcoin transaction fees. However, Glassnode data suggests that the impact of these innovations is slowly decreasing.

Traders are cautious of gas fees as they can affect transaction speed and investor interest, which could potentially lead to slower growth in the price of Bitcoin.

Despite the influence of Ordinals, positive developments within the Bitcoin ecosystem may result in an increase in the coin's value.

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