Improving Bitcoin NFT marketplace infrastructure sets the stage for ecosystem growth
Bitcoin NFT inscription activity continues to rise and the launch of new BTC specific marketplaces could lay the groundwork for the next hype cycle. Bitcoin NFT inscription activity has remained strong with consistency in the daily number of NFTs inscribed on Bitcoin. At the same time, the infrastructure to foster Bitcoin trading is finally coming together with the development of wallets and marketplaces supporting Ordinals. NFT marketplaces, Gamma and Magic Eden, added support for Bitcoin NFTs this week. While the initial response of traders has been subdued, the activity is expected to pick up soon. Improving the infrastructure around Bitcoin NFTs Bitcoin NFTs, also-known-as Ordinals, began with much fanfare in late January as they enhanced the utility and revenue of the Bitcoin blockchain. Dune dashboard from data analyst dgtl_assets shows that the Ordinals inscription activity remains robust, with nearly 580,000 NFTs inscribed in less than three months. Cumulative sum and number o...