quick take
- Bitcoin block space, usage, and transactions have grown exponentially since the introduction of ordinals and inscriptions in January 2023.
- The 100k Ordinal was carved last week. This demonstrates the traction Ordinals picked up.
- But the data suggests the numbers are starting to reverse.
- Taproot adoption and usage has dropped by half. Currently, the adoption rate is less than 9%, but the usage rate is about 3%.
- As of February 10th, Bitcoin’s memory usage exceeded 300MB. The priority rate was 21sat/vB.
- However, the memory usage is now cleared to around 88MB and only 8sat/vB has high priority. This indicates that the demand from the ordinal numbers has been exhausted.
Post-Bitcoin Ordinals adoption, utilization and memory usage drops first appeared in CryptoSlate.
