Cryptocurrency exchange Binance has said its market will enable support for Bitcoin (BTC) Ordinal.
Binance announced in a May 8 statement that it has enabled support for Bitcoin NFTs, creating a marketplace into a multi-chain open marketplace ecosystem where users can explore and trade various NFTs across multiple blockchains from their accounts. said to raise the
“Binance NFTs believe that Bitcoin’s innovative technology and cultural significance represent exciting new horizons and provide unique opportunities for NFT creation.”
This support will allow exchange users to trade these NFTs directly from their accounts while enjoying the security and stability of the platform.
binance Said It provides royalties to Bitcoin NFT creators when assets are bought and sold on the platform.
Bitcoin Ordinal Inscription Exceeds 5 Million
The number of Bitcoin NFTs has surpassed 5 million after a recent spike in activity consisting mostly of text-based assets. dune analysis show.
crypto slate Insight reported that these inscriptions generated a cumulative fee of 904 Bitcoins, benefiting BTC miners. According to Dune’s analysis, this has risen to his 1,019 BTC ($27.64 million) at the time of writing. data.
This increase follows the introduction of the Bitcoin Request for Comment (BRC-20) token standard, which allows users to utilize directly transferable assets via the blockchain network.
In the last 24 hours, Bitcoin had 241,880 unique inscriptions, of which 193,349 were text-based. There were less than 500 images, applications and token inscriptions during the period.
According to brc-20.io website, the total market capitalization of BRC-20 tokens exceeds $1 billion. The top token is Ordi, worth $471.47 million.
Meanwhile, BRC-20 tokens have accumulated over $207 million in the last 24 hours.
The current BTC NFT promotion has pushed the average network fee to $30.91. This is a level not seen since April 2021.
Binance’s NFT Marketplace supporting Bitcoin Ordinals first appeared on CryptoSlate.
