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Bitcoin Shatters Records With Over 703,000 Transactions Confirmed in a Single Day as Ordinal Inscriptions Soar 

Bitcoin Shatters Records With Over 703,000 Transactions Confirmed in a Single Day as Ordinal Inscriptions Soar 

The count of Bitcoin Ordinal inscriptions is on an upward trajectory, with the tally now eclipsing a staggering 33 million. Additionally, a milestone was achieved on September 15, 2023, when the Bitcoin blockchain set a new record by registering an astonishing 440,760 inscriptions in a single day, out of a total of 703,692 transactions confirmed that day.

Bitcoin Achieves Record-Breaking 703,000+ Transactions in a Single Day

Friday, September 15, 2023, marked a historic day for the Bitcoin blockchain as it hosted the highest number of transactions ever confirmed in a single day. This remarkable feat saw 703,692 transactions validated by miners, surpassing the previous record set on May 1, 2023, when 682,281 transactions were successfully processed on the Bitcoin blockchain.

Interestingly, on that eventful day, Ordinal transactions accounted for an impressive 62.63% of the day’s overall activity. According to data sourced from Dune Analytics, an astounding 440,760 inscriptions were authenticated on September 15, marking a zenith for inscriptions, eclipsing the prior record set on July 30, 2023.

As of the current block height, which stands at 808,443, there are approximately 33,355,450 Ordinals minted on the blockchain. A noteworthy figure to accompany this record-breaking day is that Bitcoin miners have amassed a substantial 2,068 BTC, valued at $55 million, from these inscriptions since December 2022.

The momentum in inscriptions shows no signs of waning. On September 16, 2023, the blockchain processed 381,189 inscriptions, followed by 419,147 inscriptions the very next day. September 18 saw approximately 402,535 inscriptions, and as of the ongoing Tuesday, 175,126 transactions have already been confirmed.

Once more, these statistics underline the growing dominance of inscriptions over traditional financial transactions, as they fiercely compete for precious block space. Notably, the Bitcoin blockchain presently grapples with a backlog of around 481,574 unconfirmed transactions, as recorded at block height 808,443.

What do you think about the record breaking number of Ordinal inscriptions and daily transactions confirmed on the Bitcoin blockchain? Share your thoughts and opinions about this subject in the comments section below.

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