The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 20, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Bitcoin Layer 2 Stacks Network’s STX Token Spikes 50% as ‘Ordinals’ Boom
Stack Network is a Bitcoin layer 2 for smart contracts aimed at unleashing the world’s oldest blockchain’s potential as a programmable platform.
Bitcoin Ordinals Can Lift the Entire Crypto Ecosystem
The arrival of the Ordinals Protocol, which allows for the creation of Bitcoin NFTs, has coincided with a big jump in the price of bitcoin. Add that to the SEC’s exemption of Bitcoin from the label of security, and we see a bullish bitcoin picture emerging.
Out of the Ordinal-ry: Bitcoin average block size hits all-time high
Bitcoin’s average block size has hit an all-time high of 2.5MB following the creation of the Ordinals protocol in January 2023.
Bitcoin miners already made nearly $600K from Ordinals’ NFT transactions
The Ordinals hype is real with the NFT inscriptions now regularly taking over 50% of Bitcoin block space.
Bitcoin hits record 44M non-zero addresses, thanks to Ordinals: Glassnode
Glassnode noted that this is the first time in Bitcoin history where the network has been used for purposes other than for monetary purposes.
Nifty News: Find love in Paris Hilton’s metaverse, BTC CryptoPunks soar and more
The “Parisland” metaverse experience will launch in time for Valentine’s Day to give budding lovebugs a space to meet, at least virtually.
Nifty News: Bitcoin NFTs cause spicy fees, Mastercard exec tokenizes resignation letter and more
Users are posting massive files to the Bitcoin network via the Ordinals protocol, taking up block space and paying high fees to do so.
Bitcoin Ordinals creator looks for fix after first instance of shock porn
A rather unsavory image made it to the front page of the Ordinals website for 30 minutes before it was hidden, however, the image itself is immutable.
Ordinals protocol sparks debate over NFT’s place in the Bitcoin ecosystem
The community has been divided as to whether the NFT-like “digital artifacts” are the right fit for the Bitcoin ecosystem.