Huge Shift For Bitcoin Miners With Rise Of Ordinals, On-Chain Data Suggests

Bitcoin Ordinals: While the Bitcoin halving is considered the biggest event in the cryptocurrency’s life cycle, the onset of Bitcoin based NFTs could potentially go on to become the next biggest development. Primarily, Bitcoin was so far seen as a layer 1 blockchain with its use case being peer to peer transactions. With the coming of Non Fungible Tokens (NFTs) on Bitcoin layer itself, there could be a paradigm shift in the way miners operate, going forward. On chain data shows that the mean miner transaction fee per block rose in parallel with the adoption of Ordinals.