- The largest Bitcoin transaction turns out to be an NFT.
- Bitcoin bulls cool off but golden cross might heat things up again.
While everyone and their cat were focused on whether Bitcoin would kick off February with renewed upside or retracement, something interesting happened. The Bitcoin network registered the largest block in the last four months.
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Initial findings revealed that the large transaction within the block attracted no fees, which is an unusual outcome. According to reports, the transaction was conducted by an NFT project called Taproot Wizard.
Even more interesting is that the data sent via the Bitcoin blockchain was an NFT sent in its entirety as a JPEG image.
Transaction data on the Bitcoin blockchain has historically been limited to very small packets of data. Sending an entire JPEG NFT means the amount of data being sent will be significantly higher.
Is the Bitcoin network exploring NFT utility?
The Bitcoin network has historically been limited in terms of transaction capacity and…