More than 5 million tokens have been registered on Ordinals, a platform that allows users to register and manage their digital assets. Of these, more than 2 million are fungible tokens, such as ERC-20 tokens, and the remaining 3 million are non-fungible tokens, such as CryptoKitties and NBA Top Shot.
The growing popularity of ordinals is probably due to the growing demand for digital assets. As more and more people become interested in investing in cryptocurrencies and NFTs, they are looking for platforms that make it easy to manage their assets. Ordinals provides a simple and safe way to do this, and it's no surprise that it has become so popular in recent months.
The fact that fungible and non-fungible tokens account for the majority of Bitcoin transactions in recent days is also a sign of the growing popularity of these assets. As more and more people realize the potential of cryptocurrencies and NFTs, they are looking for ways to invest in them. Bitcoin is the most popular cryptocurrency so it is not surprising that it is being used to buy these assets.
There are currently over 400,000 Bitcoin transactions awaiting confirmation. Of these, more than 200,000 are for BRC-20 tokens.
The large number of transactions awaiting confirmation is likely due to the recent rise in popularity of BRC-20 tokens.
Here are some possible reasons for the large number of transactions awaiting confirmation:
The Bitcoin network is currently experiencing high levels of congestion.
Some users may choose to use lower transaction fees, which may result in longer confirmation times.
Some users may be sending transactions to addresses that are not yet fully in sync with the network.
Here are some possible reasons for the large number of confirmed transactions representing BRC-20 tokens:
BRC-20 tokens are currently very popular.
BRC-20 tokens are relatively new, so there is still a lot of demand for them.
BRC-20 tokens are easy to use and trade.