As Ordinal inscriptions approach 150,000, blocks over 3MB are common, with many closer to the 4MB range. Meanwhile, after a 122% spike in average on-chain transaction fees in early February 2023, average fees have remained unchanged in recent weeks and are currently coasting at $1.77 per transfer.
Ordinal Inscriptions nears reaching the 150K milestone
On February 19, 2023,the number of inscriptionsis approaching 150,000; Ordinal inscriptions are approaching 150,000 after a significant increase in demand since the end of January; a week ago, Bitcoin.com News reported that blocks over 3MB were becoming common and were being mined regularly. This has increased the average block size, which is calculated by adding up the total of all block sizes mined in a day and dividing that total by 144. According to ycharts.com statisticsthe average block size reached a high of 2.525 MB on February 12, 2023.
The average block size has been decreasing, reaching 2.114 MB on February 18, 2023. along with blocks over 3 MB, blocks near the 4 MB range are being mined in increasing numbers. according to statistics from blockchair.com, a long list hasblocks over 3.75 MB; blocks over 3.75 MBare being mined; blocks over 3.75 MB
are being mined; blocks over 3.75 MB
are being mined; blocks over 3.75 MB are being mined. For example, block heights #774,628, #777,302, #776,310, #777,320, and #777,303 are all over 3.93 MB All blocks over 3.75 MB were mined in February.
Bitcoin’s average on-chain feeshave stabilized and remained in the $1.7 range after the average fee cost rose 122% in the first week of February 2023.On February 15, 2023,BTCfeesper transfer were $2.465 to a high of $0.00. As of February 18, 2023,the median feeis approximately $0.00003BTCor $0.744 per transfer. The median Bitcoin fee has also stabilized after first rising in the first week of February.
Just four days ago, the number of audinal inscriptions reached 100,000 and is now steadily approaching 150,000. At the time of this writing, there are approximately names.145,630 Ordinal nameplatesembedded in the bitcoin blockchain.
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