Franklin Templeton's Report on Bitcoin Ordinals: A Closer Look at Innovations and Market Impact

Thursday, 4 April 2024, 17:30

Explore the rise of Bitcoin Ordinals and its impact on the network, including new token standards, DeFi applications, and NFT market trends. Learn how Bitcoin Ordinals have gained significant market share and surpassed Ethereum-based NFTs. The report by Franklin Templeton Digital Assets highlights the growing institutional interest in Bitcoin and its evolving ecosystem.
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Franklin Templeton's Report on Bitcoin Ordinals: A Closer Look at Innovations and Market Impact

Ordinals and Runes: Bitcoin's New Wave of Innovations

Franklin Templeton examines the impact of Ordinals on Bitcoin's innovation, including new token standards, Layer 2 solutions, and DeFi applications. Ordinals, a method for inscribing data on the Bitcoin blockchain, have led to a surge in NFT activity.

Top 5 Ordinal Collections in NFT Market:

  • NodeMonkes
  • Runestone
  • Bitcoin Puppets
  • Ordinal Maxi Biz
  • Bitmap

The report reveals that Bitcoin-based NFTs have outpaced Ethereum counterparts multiple times and Bitcoin Ordinals held a 50% market share in December 2023.

In conclusion, Franklin Templeton's analysis sheds light on the growing importance of Bitcoin Ordinals in the crypto space.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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