On December 10th, Adam Back, CEO of Blockstream, wrote on the X platform that there is currently no soft or hard fork behavior caused by inscriptions, and the scrutiny resistance model of Bitcoin is that other miners will mine something that a miner/pool does not mine. Now with Stratum V2 and commitment transactions, anti-scrutiny and decentralized attributes can be done even better.

According to the latest data from Dune, as of December 6th, the cumulative fee income generated by the Bitcoin NFT protocol Ordinals' inscription casting has exceeded 3361 BTC, equivalent to 142,138,023 US dollars. The current total number of inscriptions cast is 46,373,974.

Bitcoin developer Rijndael (@rot13maxi) announced that he will join the Bitcoin Ordinals project Taproot Wizards as CTO. Rijndael has focused on distributed systems, infrastructure, and applied cryptography for the past 15 years and has served as the technical lead for Amazon's NFT project. In recent years, he has turned to the Bitcoin field and focused on developing self-custody tools for Bitkey (a new Bitcoin wallet launched by Block).

Bitcoin Ordinals nonfungible token user activity has experienced a drastic decline, with trading volumes dropping by 98% since May, according to DappRadar. The total sales volume for Bitcoin Ordinals has decreased from $452 million in May to approximately $3 million as of August 14, with the number of transactions declining by 97% to 20,571 in the same period. 、

Luminex, a web3 launchpad, has introduced a new Bitcoin Ordinals standard called BRC69, which could revolutionize the way content creators and traders develop Recursive Ordinals collections. The BRC69 standard simplifies customization with on-chain features, including on-chain pre-reveals and drag-and-drop functions, and offers a cost-effective solution for content creators. The new standard can solve the issue of lower Bitcoin block spaces for new creators and developers, and allows users to create a Recursive Ordinals collection with much lower costs. Bitcoin Ordinals is a revolutionary protocol on the Bitcoin blockchain that allows users to inscribe data on the smallest units of a Bitcoin, known as Satoshi.

Vitalik Buterin, Ethereum co-founder, participated in a Twitter Spaces session where he discussed new developments on the Bitcoin blockchain, specifically praising the introduction of Bitcoin Ordinals as a revival of the "builder culture" and a shift away from stagnant politics. He suggested Bitcoin developers prioritize layer-2 solutions and improving the efficiency of the base layer, but faced criticism from Bitcoin fundamentalists who argue that Smart Contracts and NFTs dilute Bitcoin's core peer-to-peer cash functionality.

According to DappRadar's latest quarterly report, the creation of nonfungible token inscriptions on the Bitcoin blockchain has resulted in over $210 million in trading volume for Bitcoin Ordinals. The report shows that Bitcoin Ordinals' popularity has led to a significant increase in trading volume through the second quarter of 2023, with trading volume increasing from $7.18 million in Q1 to $210.7 million. The rise in popularity of Bitcoin Ordinals has also had an interesting effect on the NFT landscape, with Bitcoin surpassing Solana to become the second-most popular NFT blockchain. Additionally, Ethereum co-founder Vitalik Buterin credited Bitcoin Ordinals for reigniting a "builder culture" in the Bitcoin ecosystem.

Ethereum co-founder Vitalik Buterin believes that the introduction of Bitcoin Ordinals represents a return to a culture of "doing things" within the Bitcoin network. Buterin praised the Ordinals and the BRC-20 token standard for rejecting stagnant politics in the Bitcoin ecosystem.

The latest DappRadar report reveals that the NFT market is still struggling, with a 38% drop in trading volume and a 9.2% decrease in sales from Q1 to Q2. The number of unique buyers and sellers in the NFT market has also significantly declined.

July 4 (Cointime) - The NFT market has experienced a decline in interest, particularly affecting Yuga Labs' Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC). The introduction of Bitcoin Ordinals led to a rally in the NFT market, but interest has since declined.