According to recent reports, total fees for Ordinals now account for 12% of all transaction fees, with a 0.3% subsidy from the network. This is the highest it has been since the collapses of FTX and 3AC, resulting in one of the biggest mempool backlogs ever seen.
The increase in demand for Ordinals is being attributed to the rise of decentralized finance, or DeFi. As more users flock to DeFi protocols, the need for digital assets with secure and reliable asset ownership has become increasingly important. Ordinals provide an immutable way to secure these digital assets, making them attractive investment vehicles for those participating in DeFi projects.
It is apparent that the demand for Ordinals has been on a steady incline, and as such, expenditure in securing them keeps rising exponentially. This trend will most likely stay this way because of DeFi’s continuing expansion and investors’ strong desire to protect their digital assets.
The increasing popularity of Ordinals is a sign of the times. As more people look for ways to securely store their digital assets, inscribing them onto the blockchain will become an increasingly attractive option. If you’re looking for a safe way to invest in DeFi and protect your digital assets, Ordinals may be the answer.
What does this mean to investors?
For investors, this means that the demand for Ordinals is only set to grow further. As more users enter DeFi protocols, the need for secure asset ownership will only increase. This could lead to higher prices and a greater return on investment in the long run. With the mempool backlog already at unprecedented levels, now might be a good time to invest in Ordinals to get ahead of the curve.
However, as with any investment, it is important to do your own research before committing funds. Investing in digital assets carries certain risks, and it is important to be aware of these before making any decisions. To make sure you are making an informed decision, consider speaking to a financial advisor or conducting thorough research into the available options.
Ultimately, the increasing demand for Ordinals is a sign of an ever-expanding market with high potential returns on investment. With this in mind, it could be worth looking into if you are interested in investing in digital assets.
Conclusion
It is clear that spending to inscribe Ordinals is climbing at an increasing rate, and this trend looks set to continue in the future. This could mean big returns on investment for those who get ahead of the curve, but it also carries some risks.
As such, any investors interested in digital assets should be sure to do their own research and speak to a financial advisor before committing funds. With the right strategy, investing in Ordinals could be a lucrative way to diversify your portfolio.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. We recommend that you speak to a qualified financial advisor before making any investment decisions.
