{"id":17840,"date":"2023-02-19T18:20:57","date_gmt":"2023-02-19T18:20:57","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-continues-to-record-blocks-above-the-3-75-mb-range-as-ordinal-inscriptions-near-150000-bitcoin-news\/"},"modified":"2023-02-19T18:20:57","modified_gmt":"2023-02-19T18:20:57","slug":"bitcoin-continues-to-record-blocks-above-the-3-75-mb-range-as-ordinal-inscriptions-near-150000-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-continues-to-record-blocks-above-the-3-75-mb-range-as-ordinal-inscriptions-near-150000-bitcoin-news\/","title":{"rendered":"Bitcoin Continues to Record Blocks Above the 3.75 MB Range as Ordinal Inscriptions Near 150,000 \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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As Ordinal inscriptions approach the 150,000 mark, blocks larger than 3 MB have become commonplace, with many blocks near the 4 MB range. Meanwhile, after the average transaction fee on-chain rose 122% higher at the beginning of February 2023, the average fee has remained the same over the last few weeks and is currently coasting along at $1.77 per transfer.<\/strong><\/p>\n

Ordinal Inscriptions Close in on Reaching 150K Milestone<\/h2>\n

On Feb. 19, 2023, the number of Ordinal inscriptions<\/a> is approaching 150,000 after a significant increase in demand since the end of January. A week ago, Bitcoin.com News reported that blocks larger than 3 MB are now commonplace<\/a> and are being mined regularly. This has increased the average block size, which is calculated by adding up the total of all block sizes mined in a day and dividing the total by 144, which is the average number of blocks mined daily. Statistics<\/a> from ycharts.com show that the average block size reached a high of 2.525 MB on Feb. 12, 2023.<\/p>\n

\"Bitcoin<\/p>\n

The average block size has decreased and was 2.114 MB on Feb. 18, 2023. Along with the blocks larger than 3 MB, there are also an increasing number of blocks near the 4 MB range being mined. According to statistics from blockchair.com, a long list of blocks that are 3.75 MB or larger<\/a> has been mined. For example, block heights #774,628, #777,302, #776,310, #777,320, and #777,303 are all 3.93 MB or larger. All of the blocks larger than 3.75 MB have been mined in February.<\/p>\n

Average onchain fees<\/a> for Bitcoin have remained stable after a 122% increase<\/a> in average fee costs during the first week of Feb. 2023, and have continued to be within the range of $1.7. On Feb. 15, 2023, BTC<\/a> fees did increase to a high of $2.465 per transfer. As of Feb. 18, 2023, median-sized fees<\/a> are roughly 0.00003 BTC<\/a> or $0.744 per transfer. Median fees on Bitcoin have also remained stable after the initial increase during the first week of February.<\/p>\n

Only four days ago, the number of Ordinal inscriptions hit 100,000, and now it is steadily approaching 150,000. As of the time of writing, there are approximately 145,630 Ordinal inscriptions<\/a> embedded into the Bitcoin blockchain.<\/p>\n

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Bitcoin<\/a>, Block Size<\/a>, Blockchain<\/a>, Blockchain Explorer<\/a>, Consensus<\/a>, Cryptocurrency<\/a>, Cryptography<\/a>, Decentralized<\/a>, Demand<\/a>, Digital Asset<\/a>, Digital Currency<\/a>, Economy<\/a>, encryption<\/a>, Finance<\/a>, Hardware<\/a>, Innovation<\/a>, investment<\/a>, market<\/a>, Marketplaces<\/a>, mining<\/a>, minting<\/a>, network<\/a>, NFTs<\/a>, nodes<\/a>, on-chain fees<\/a>, Ordinal inscriptions<\/a>, ordinal marketplace<\/a>, ordinal support<\/a>, Ordinal Trend<\/a>, ordinals<\/a>, ordinalsbot.com<\/a>, Peer-to-peer<\/a>, Scalability<\/a>, Security<\/a>, Software<\/a>, technology<\/a>, trading<\/a>, Transaction<\/a>, volatility<\/a>, Wallets<\/a><\/div>\n<\/div>\n

What do you think about Ordinal inscriptions coming awfully close to reaching 150,000? Share your thoughts in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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