Over the past 37 days, since September 15, 2023, the number of daily bitcoin transactions has dropped considerably, with the trend of Ordinal inscriptions experiencing a significant slowdown. In the first two weeks of September, the average number of daily transactions confirmed on the Bitcoin blockchain decreased by more than 46%.
2023’s Bitcoin Transaction Paradox: A Year of Growth Amidst Recent Slowdowns
Since mid-September, there has been a marked slowdown in Ordinal inscriptions, leading to a decrease in daily confirmed BTC transactions. Inscriptions plummeted on September 24, 2023, and haven’t rebounded since. As of block height 813,333, there are about 35,377,327 inscriptions tied to the Bitcoin blockchain.
While more than 232,000 inscriptions were added on September 24, the daily count hasn’t surpassed 100,000 since then. Over the last week, it has struggled to exceed 20,000 inscriptions per day. This trend has affected the number of daily BTC transactions. On September 1
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