Ordinals push bitcoin to record 44 million non-zero addresses: Glassnode

02/16 05:03

According to crypto analytics company Glassnode, the introduction of Bitcoin non-fungible tokens (NFTs) known as Ordinals has pushed the number of non-zero Bitcoin addresses to a new all-time high of 44 million. Glassnode claimed that the Ordinals boom has led to a recent short-term increase in Bitcoin network utilisation that has attracted a large number of new active users with a non-zero BTC balance to the network. Glassnode highlighted that Ordinals is now competing for block space demand, which is putting upward pressure on the free market, but that this has not resulted in a substantial increase in Bitcoin transaction costs. According to Glassnode, the highest limit of the average Bitcoin block size has climbed from 1.5-2.0 MB to 3.0-3.5 MB in a couple of weeks after Ordinals began on January 21.
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