2 reasons why Bitcoin Ordinals are ‘positive’ for BTC: Grayscale


Bitcoin (BTC) Ordinals — also known by some as Bitcoin NFTs — could renew developer enthusiasm for Bitcoin and boost mining fees, according to cryptocurrency investment firm Grayscale.

In an April 27 “Market Byte” blog post, the firm suggested that Ordinals provide two key benefits to the growth and development of the Bitcoin ecosystem.

The first is a substantial increase in fees paid to miners, which has been seen since the launch of the protocol in January, according to Grayscale.

“The advent of ordinals has led to an increase in total fees paid to miners […] which could potentially establish a sustainable baseline level of transaction fees to incentivize miners.”

Grayscale argued that this would ensure “continued network security throughout the lifetime of the Bitcoin network.”


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