Bitcoin Ordinals Driving ‘Renaissance’ in BTC Activity: Franklin Templeton

Bitcoin Ordinals are driving a “renaissance” in BTC activity, according to global investment firm Franklin Templeton. In a new prospectus, Franklin Templeton’s Digital Assets division highlighted the rise of Ordinal inscriptions in the digital collectible world. The firm noted that Bitcoin innovation and development have seen a surge in activity, primarily driven by Bitcoin NFTs known as Ordinals, new fungible token starts like BRC-20 and Runes, Bitcoin Layer 2s, and other Bitcoin DeFi primitives. The firm highlighted the increase in trading volume and market capitalization of Ordinals relative to NFTs on other networks. Franklin Templeton Digital Assets also mentioned popular Ordinal collections such as NodeMonkes, Runestone, Bitcoin Puppets, Ordinal Maxi Biz, and Bitmap. The firm acknowledged that Bitcoin Ordinals have surpassed ETH in trading volume, indicating their growing dominance. The Franklin Templeton digital assets team is known for being progressive in cryptocurrency and blockchain technology. They have invested in Ordinals infrastructure startups and were the first to launch a Bitcoin ETF. The recent attention on Ordinals by Franklin Templeton has been met with enthusiasm from the Ordinals community.