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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Experience to Earn: Everdome’s Metaverse Frontier

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  • NFT
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    how NFTs became a global brand and a Web3 “social currency”

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  • Blockchain
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  • AI
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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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  • Guides
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    What’s the Difference & Which Is Better to Trade?

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

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    What Is Copy Trading in Crypto? A Beginner’s Guide

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  • Analysis
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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    Somnia Launches Playground App to Empower Metaverse Creators

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    Ethereum Collections Lead NFT Sales Today

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    how NFTs became a global brand and a Web3 “social currency”

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    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

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    NFT sales surge to $574 million in July, second-highest in 2025

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    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

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    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

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    You Can Now Buy NBA Top Shot NFTs From Vending Machines in Japan

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    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

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    Early Off the Grid Skin Holders Are Cashing In – Will You?

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

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    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

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    NFTs Stage a Summer Comeback: Blue-Chips Reclaim Spotlight in July Rally

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    ETH Daddy Discusses Ethereum and AI

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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    What’s the Difference & Which Is Better to Trade?

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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Home Mining

Bitcoin Miners Hit Record $9.97M Earnings From Ordinals; 61% of BTC Transfers Inscription-Driven

December 17, 2023
in Mining
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Bitcoin Miners Hit Record $9.97M Earnings From Ordinals; 61% of BTC Transfers Inscription-Driven
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In the wake of a substantial increase in onchain transaction fees for Bitcoin, the compensation to bitcoin miners from inscription-based transfers has hit a record peak in the last 24 hours. An estimated total of $9.97 million was allocated to miners, eclipsing the former high of $7.21 million established on May 8, 2023.

READ ALSO

Trump-Backed American Bitcoin Nears Public Listing as Gryphon Sets Merger Vote Schedule

Bitcoin mining difficulty hits all-time high

Miners Rake in Record Fees From Ordinals; Inscriptions Fuel 61% of Bitcoin Transactions

Bitcoin Ordinal inscriptions are nearing the significant milestone of 50 million, with around 48,754,694 marked on the blockchain at this moment. As of December 16, 2023, a record-breaking amount was remunerated to miners for Ordinal inscriptions in a single day. Data indicates that on this Saturday, miners received over 235 BTC, marking it the third-highest day in terms of BTC volume, according to Dune Analytics metrics.

Ordinal fees paid to miners in U.S. dollar value, according to Dune Analytics.

Yet, this day stood out as the most substantial in the U.S. dollar value of these fees, with miners earning $9.97 million in the 24-hour timeframe. This surpasses the prior peak on May 8, 2023, when miners were compensated $7.21 million for inscription confirmations. On that particular day, miners were rewarded with more than 257 BTC for verifying inscriptions. The higher miner earnings on this recent Saturday can be attributed to the increased value of BTC.

On May 8, 2023, BTC’s closing price was at $27,668 per unit, whereas on December 17, its 24-hour price fluctuated between $41,668 and $42,666. From the 48.75 million inscriptions created since December 16, 2022, miners have garnered over 4,084 BTC, equivalent to $170.68 million, for confirming these transactions. On that same day, bitcoin miners processed 638,144 transactions, with 392,574 being inscription-related. This indicates that inscriptions drove 61.51% of all BTC transactions that day.

See also  Telehealth Technology Market Will Hit Big Revenues In Future | Biggest Opportunity Of 2024

What do you think about the record fees bitcoin miners collected on Saturday? Share your thoughts and opinions about this subject in the comments section below.

Tags: 9.97MBitcoinBTCEarningshitInscriptionDrivenMinersOrdinalsrecordTransfers

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