Insights

Total Bitcoin Inscriptions count approaches 10M

exchange68September 13, 2024

0 0 1 minute read

Quick Take

The total Bitcoin Inscription count is approaching 10 million – currently 9,574,192.
Inscriptions are the metadata added onto Bitcoin Satoshis via the Witness portion of a Bitcoin transaction. The metadata can relate to text, images, video, etc., but is limited to about 4 MB.
The second chart below shows text-based Inscriptions make up the majority of New Count Inscriptions.
The current run rate of Inscriptions is roughly 200,000 per day; this figure has noticeably fallen off throughout May – suggesting a growing reluctance to pay fees.

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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