The number of Bitcoin transactions reaches a record high as the number of Bitcoin subscriptions surges

Using a seven-day moving average, the number of daily Bitcoin blockchain transactions has attained a new all-time high.

Using a seven-day moving average, the number of daily transactions on the Bitcoin blockchain reached a new all-time high yesterday.

According to data from The Block, the number of on-chain transactions reached a record high of over 408,000. The previous record was slightly more than 406,000.

The record high was also noted by the Chinese journalist Colin Wu, who cited a seven-day average of 426,337.14 transactions from Glassnode data.

The record-high average daily number of Bitcoin transactions may be attributable to Inscriptions, which have increased demand for block space on the leading blockchain.

Metadata associated with satoshis, the tiniest unit of Bitcoin. They may include data as digital entries on Bitcoin’s public distributed ledger.

Yesterday, Daily Inscriptions reached a new record high of over 223,000, according to data from Dune Analytics.

According to Grayscale, Ordinals, and Inscriptions-related activity may be beneficial for the OG blockchain.

Even while there are real worries, the company said, “We think ordinals have the potential to have a beneficial long-term influence on the Bitcoin network, bringing a new generation of eager users and developers to join the Bitcoin ecosystem.” Currently, the price of Bitcoin exceeds $29,200 and is up more than 77% year-to-date.

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