Bitcoin Ordinals, a digital art collection inscribed on the Bitcoin blockchain, has sparked a heated debate within the cryptocurrency community. Critics argue that Ordinals inscriptions are “spam” and pose a security threat to Bitcoin Core. Luke Dashjr, from OCEAN Mining, even played a role in adding Ordinals to the United States National Vulnerability Database. On the other hand, fans of Ordinals believe that it brings legitimate economic traffic to Bitcoin and incentivizes miners with higher fee rewards.
In a recent development, an unknown Ordinals enthusiast has accepted a challenge from Elon Musk to encode a video clip on the blockchain. The pundit paid a staggering $7,223 to fulfill Musk’s request. This challenge arose after a user on X posted a video questioning the relevance of NFTs, to which another user responded with a comment about web links to data one doesn’t own. The encoded video features a 3D rotating diorama with gold-plated text, including phrases like “computers never sleep” and “HODL.”
Ethereum’s dominance in the NFT market has declined, with Ordinals and Solana gaining traction. Bitcoin has surpassed Ethereum in NFT sales volume, with Ordinals generating $796.7 million and Solana reaching $334.2 million. This shift marks a significant change from earlier this year when Ethereum was the dominant player in the NFT market. However, Bitcoin Ordinals has experienced fluctuations in volume throughout the year.
In other news, former US President Donald Trump has been cashing out a substantial amount of Ether (ETH) earned from selling his NFTs. His affiliated wallet has transferred $1,075 ETH, equivalent to around $2.4 million, to Coinbase since December 8. This comes as a surprise considering Trump’s previous criticism of cryptocurrencies. It seems he is now profiting from his NFT collections.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | None |
| Companies | None |
| Currencies | Bitcoin, Black Sats, Solana, Ethereum, US Dollar |
| Securities | None |
