Recursive Ordinals Gains Traction

At the time of writing, the Bitcoin network has successfully surpassed 16M Ordinal inscriptions, a 38% increase since June. The growth of Ordinals inscriptions is showing no signs of a slowdown, largely driven by BRC-20 tokens and the rising popularity of wallets like UniSat, which lowered the entry barrier for retail to buy Ordinals and BRC-20 tokens.

The number of recursive Ordinals inscriptions witnessed a significant increase, reaching a peak of 70% of all inscriptions on July 7. After being introduced in late June, recursive Ordinals started gaining popularity in early July and accounted for 60% of all inscriptions on July 9.

Ordinals now possess the ability to utilize data from other inscriptions within their own inscription, thanks to recursion. This newfound capability enhances the flexibility of Ordinals by eliminating constraints such as the maximum file size limitations of 4MB. Moreover, it enables the development of additional tools that can be built upon Ordinals and contributes to cost reductions per inscription.

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Its been amazing to watch Ordinals. Every new innovation creates a new wave of excitement and experimentation. When I did the BRC-20 report we were just starting to see the recursive's take a big share of the inscription market.

Mindblowing to realise that it hasn't even been a year since Ordinals was born yet!

I know right - its speed running