- Their volume exceeded the 2017 numbers
- Certainly the Ordinals haip contributed to this
- But overall, such records show an important thing in the network’s development path
According to Glassnode and other blockchain services, the weekly number of BTC transactions reached a record. It exceeded the previous ATN of 2017.
This increase is due to the growing demand for Bitcoin Ordinal NFT. It is interesting that in the past the number of transactions has always reached a record during bull markets.
But even the bull run of 2021 could not “outperform” the brilliant bull market performance of 2017. This week, the record is finally being broken.
According to Dune analysts for April 29, the number of records in the Bitcoin network exceeded 2.5 million.
Ordinals records are similar to the NFT on the ether network. But they are written in the smallest unit of bitcoins, satoshi.
BTC miners earned 217.83 BTC as commissions by processing Ordinal transactions (also data as of the end of April). Since its launch in late 2022, Bitcoin NFTs have become increasingly popular.
The increasing number of transactions is an important factor for the development of the Bitcoin network.
Other important metrics like hashing rate, number of users and long-term holders, number of miners, etc.
Even if the increase in transactions is only due to the hype surrounding Ordinal, this record still shows how powerful the Bitcoin network has become.. And in the next bull market, this ATN will definitely be beaten.