The craze for inscriptions is fading, who will be the next hot spot?

Since 2023, the encryption market has experienced a brief rebound, in which the Inscription Track has become the focus of the market's most attention. However, as Bitcoin Core developer Luke Dashjr criticized Inscription, the inscription craze gradually ebbed. After the inscription craze subsides, what new hot spots will the market usher in?

Since October 2023, Inscription Circuit has risen rapidly and become the focus of most attention in the market. Inscription is a derivative based on the Bitcoin network that can be minted by staking Bitcoin. The emergence of inscriptions brings a new value capture mechanism to the Bitcoin network and also provides investors with new investment opportunities.

Driven by the inscription craze, several inscription items have experienced significant price increases. Among them, ORDI has become the brightest star in the encryption market, with its price rising several times in just one week. The emergence of the inscription craze has also driven the overall popularity of the Layer2 network.

Token prices for Layer 2 networks such as Solana and Avalanche have also increased.

However, as Bitcoin Core developer Luke Dashjr criticized Inscription, the inscription craze gradually ebbed. Luke Dashjr believes that the existence of inscriptions will lead to a decrease in the security and decentralization of the Bitcoin network. In addition, the casting of inscriptions also requires a large amount of energy, which is contrary to Bitcoin’s environmental protection philosophy.

The ebb of the inscription craze also means that the popularity of Layer 2 networks has declined. The token prices of Layer 2 networks such as Solana and Avalanche have also seen corrections.

After the inscription craze subsides, what new hot spots will the market usher in? Here are some directions worth paying attention to:

Spot Bitcoin ETF approval progress

The approval of spot Bitcoin ETFs has been the focus of market attention. If the US SEC approves a spot Bitcoin ETF, it will bring new benefits to the Bitcoin market and may trigger a new round of bull market.

The rise of the Cosmos ecosystem

The Cosmos ecosystem is an ecosystem composed of multiple independent blockchains. The Cosmos ecosystem has advantages in scalability, interoperability, etc., and has received more and more attention in recent years.

The integration of NFT and DeFi

NFT and DeFi are two important tracks in the encryption field. With the integration of NFT and DeFi, NFT will become an important part of the DeFi ecosystem, which will bring new growth momentum to the NFT market.

Web3 landing application

Web3 is a decentralized network based on blockchain technology. With the continuous development of Web3 technology, the implementation of Web3 will become a major trend in the encryption market in the future.

All in all, the ebb of the inscription craze does not mean that the encryption market will fall into a bear market. After the inscription craze subsides, the market will usher in new hot spots. Investors should remain cautiously optimistic, always observe market dynamics, and actively participate in investments.

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#铭文 #ORDI