Insights

Bitcoin Inscriptions surge: 200k created in one day – yet demand remains minimal

exchange68September 13, 2024

0 1 1 minute read

Quick Take

CryptoSlate recently reported that Inscriptions passed the one million milestone.
A new record was set for the biggest one-day count for Inscriptions — roughly 200,000 Inscriptions were created on April 23.
However, the mempool was fully cleared at block 786551 — showing the demand for Inscriptions isn’t there.
Doing a deep dive into this, it seems that the count is coming primarily from text and not representative of images. It appears the new craze is flooding Inscriptions as texts.

Inscription Text: (Source: Ordinals.com)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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