PANews reported on December 26 that, according to The Block, the transaction share of Ordinals on the Bitcoin network has fallen to a new low, accounting for only 1.67% of daily transaction volume, in stark contrast to its dominant position from April to November, when Ordinals' transaction volume typically accounted for more than 50% of Bitcoin's daily transaction volume. At the same time, Ordinals' daily transaction fees have remained below $250,000, indicating a significant reduction in network activity.
This change is in line with broader market dynamics and shifts in investor interest. As Bitcoin prices fluctuate, attention has begun to shift from Ordinals and other experimental Bitcoin-based protocols to other cryptocurrency sectors, such as AI agents, MEME coins, and Ethereum Non-Fungible Tokens (NFTs), which have gradually gained market share, potentially leading to a decline in investor interest in Bitcoin-based token protocols.
The data suggests that the Ordinals ecosystem may be experiencing a cooling-off period. Its network share has plummeted from over 50% to less than 10%, signaling a significant change in the usage patterns of the Bitcoin network. This trend may reflect a shift in speculative interest, with investors turning their attention to other cryptocurrency sectors.
