Bitcoin continues to record blocks above the 3.75MB range as ordinal inscriptions near 150,000 –
As ordinal inscriptions approach the 150,000 mark, blocks larger than 3MB have become commonplace, with many blocks near the 4MB range. After the average transaction fee on the chain increased by 122% in early February 2023, the average fee has stayed the same over the past few weeks and currently stands at $1.77 per transfer.
Ordinal Inscriptions are nearing the 150,000 milestone
On February 19, 2023, ordinal enrollments will approach 150,000 after demand has increased significantly since late January. Reported a week ago Bitcoin.com News that blocks larger than 3MB are now commonplace and mined regularly. This has increased the average block size, which is calculated by adding the sum of all block sizes mined in a day and dividing by 144, which is the average number of blocks mined daily. Statistics from ycharts.com show that the average block size peaked at 2,525 MB on February 12, 2023.
The average block size has decreased and was 2.114 MB on February 18, 2023. In addition to the blocks larger than 3MB, there is also an increasing number of blocks near the 4MB range that are being mined. According to statistics from blockchair.com, a long list of blocks with a size of 3.75 MB or more were mined. For example, block heights #774628, #777302, #776310, #777320, and #777303 are all 3.93 MB or greater. All blocks larger than 3.75 MB were mined in February.
Average onchain fees for bitcoin have remained stable and remain in the $1.7 range after a 122% increase in average fee costs in the first week of February 2023. On February 15, 2023, BTC fees spiked to a high of $2.465 per transfer. As of February 18, 2023, average fees are about 0.00003 BTC, or $0.744 per transfer. Bitcoin mean fees have also remained stable after the initial increase in the first week of February.
Only four days ago the number of ordinal inscriptions reached 100,000 and is now steadily approaching 150,000. At the time of writing, there are approximately 145,630 ordinal inscriptions in the BitcoinBlockchain embedded.
What do you think of ordinal inscriptions coming awfully close to 150,000? Do share your thoughts in the comment section below.
photo credit: Shutterstock, Pixabay, WikiCommons
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
Source: Crypto News Deutsch
