Bitcoin Ordinals ORDI token tops $1B market cap after 850% monthly gain

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Ordinals-inscribed assets rapidly gained in popularity with the wider blockchain community. After suffering a brief and sudden decline in inscription activity in October, Binance’s decision to list ORDI on Nov. 7 seemed to reignite enthusiasm for the assets.

*Bitcoin Ordinals saw a brief decline in activity in October but quickly rebounded. Source: Dune Analytics*

According to Dune Analytics data, more than 48 million Ordinals assets have been inscribed since the protocol’s inception and have seen more than $146.9 million in fees paid to the Bitcoin network.

On Nov. 20, transaction fees on the Bitcoin network flipped those of Ethereum amid a rush to inscribe new NFTs and BRC-20 tokens.

Additionally, on Nov. 17, the Ordinals-based project Taproot Wizards announced a $7.5 million seed round.

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