The Ordinals inscription costs are increasing, according to a post by a crypto analyst.
According to Dune statistics, $127k was spent on putting Ordinals on the Bitcoin blockchain.
After FTX and 3AC failure, the analyst claimed that Prdinals has the largest mempool backlog.
The cost of inscribing Ordinals is increasing, according to Data Always, a cryptocurrency expert on Twitter. Over $127,000 was reportedly paid to encrypt Ordinals on the blockchain, according to an image she posted from Dune Analytics indicating Bitcoin Fees Paid To Inscribe Ordinals.
The cost of inscribing Ordinals is increasing daily. 12% of all fees are still paid, along with 0.3% of the subsidies, but the growth is still exponential. largest mempool backlog since the failures of FTX and 3AC. pic.twitter.com/Ftpxdu4jDY
— Data Always, February 8, 2023 (@Data Always).
According to the account, Ordinals has the largest mempool backlog since the failures of FTX and 3AC. It also noted that while the increase is still only 12% of total fees and 0.3% of the subsidies, it is still exponential.
The analyst also stated that although consumption is starting to increase today, the costs on the low end of the spectrum have been “very inelastic.” Neverthele…
Crypto Analyst Tweets About Increasing Ordinal Inscription Fees | Coin Edition
The first time this article published on Coin Edition was when a crypto analyst tweeted about increasing inscription fees.
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