Ordinals activity in its first 200 days outpaced that recorded on the Ethereum, Solana, and Polygon blockchains in the same period. This and more news is in this handy daily summary so that you are always informed with the latest events occurring within the crypto world.
There are more than 35 million ordinals in Bitcoin
📍Digital asset management firm Galaxy Digital has published a report highlighting the role of Ordinals in the maturity of the Bitcoin ecosystem. In the recent report published by the firm, titled “Bitcoin Inscriptions & Ordinals: A Maturing Ecosystem”, Galaxy Digital highlighted that the birth of Ordinals, inscriptions similar to NFTs that are made on the Bitcoin blockchain, has created a new frontier for digital collectibles on Bitcoin, marking a before and after for this blockchain.
To date, the number of ordinals registered in Bitcoin makes the network one of the most popular in the NFT market. According to Galaxy Digital, the rapid advance of ordinals represented an explosive growth of approximately 126x from March to September of this year, accumulating more than 35 million registrations nowadays.
“Ordinals’ significant growth is not only a testament to the intrinsic appeal of digital collectibles on Bitcoin, but a reflection of a rapidly maturing ecosystem”, the firm noted.
In addition to the volume of registrations and transactions that ordinals have generated on the Bitcoin network, Galaxy Digital also highlighted the constant development that this innovation is producing in the blockchain. For example, it highlighted the new use cases for ordinal registrations and the improvements that the project developers have been working on to increase scalability and improve the infrastructure.
Crypto winter hits Yield Protocol
📍Decentralized lending and yield protocol Yield Protocol announces the cessation of its operations. Through a statement shared on X (formerly Twitter), Yield Protocol informed the crypto community of its decision to cease lending activity by December 31 of this year.
In the statement, the decentralized protocol pointed to a lack of demand for loans on its platform and the increasingly challenging regulatory environment in the United States as the reasons for this difficult decision.
The price of the YIELD token has experienced a marked volatility Following the announcement, it is currently trading at around $0,0012 per unit. The current market cap of this token is below $50.000.
TMX to launch Bitcoin futures
📍One of Canada's largest exchanges, TMX, is preparing to launch Bitcoin futures contracts. This will allow TMX investors and clients to access the growing Bitcoin ecosystem in a secure and regulated manner, Indian.
TXM also highlighted that both Bitcoin and cryptocurrencies in general are gaining momentum in Canada. However, there are still many limitations that prevent traditional investors from accessing the new digital asset class.
Therefore, trading Bitcoin futures contracts is a way to unlock investors' entry into the crypto market and manage their exposure to cryptocurrency price movements, meeting the needs of its investors.
Continue reading: Block: Bitcoin optimism is growing in developing countries
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