Bitcoin

Total Bitcoin Inscriptions count approaches 10M

05/29/2023
Bitcoin Ethereum News

Quick Take

  • The total Bitcoin Inscription count is approaching 10 million – currently 9,574,192.
  • Inscriptions are the metadata added onto Bitcoin Satoshis via the Witness portion of a Bitcoin transaction. The metadata can relate to text, images, video, etc., but is limited to about 4 MB.
  • The second chart below shows text-based Inscriptions make up the majority of New Count Inscriptions.
  • The current run rate of Inscriptions is roughly 200,000 per day; this figure has noticeably fallen off throughout May – suggesting a growing reluctance to pay fees.
Inscriptions: (Source: Glassnode)
Inscriptions: (Source: Glassnode)
Inscriptions: (Source: Glassnode)
Inscriptions: (Source: Glassnode)

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