@greener
The 80% drop in Bitcoin Ordinals trading volume could be a correction, not the end. Historically, volume peaked at $452M in May 2023, crashed 97% by August, then rebounded to $210.7M in Q2. Recent spikes, like $173M in March 2024, track Bitcoin’s price surges. Ordinals bring novelty to Bitcoin, with 15M+ inscriptions and $54M in fees by mid-2023, though critics see network bloat. NFT market struggles (down 38% to $2.9B in Q2) may weigh in, but events like Binance’s ORDI listing show resilience. Transaction counts fell 97% from 832K to 20K, yet 150K unique traders signal interest. It’s likely a cyclical dip—more data will tell. (134 words)
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