The popularity of Bitcoin Ordinals has declined somewhat since its peak in May 2023. However, it is still a relatively new technology, and it is possible that its popularity will continue to grow in the future.
According to Dune Analytics, the number of Bitcoin Ordinal inscriptions per day peaked at over 193,000 on April 23, 2023. Since then, the number of inscriptions has declined to around 50,000 per day. This represents a decline of about 75%.
There are a few possible reasons for the decline in popularity of Bitcoin Ordinals. One possibility is that the initial hype surrounding the technology has died down. Another possibility is that some users have been disappointed with the high fees associated with Bitcoin Ordinal transactions.
Despite the decline in popularity, Bitcoin Ordinals still have the potential to be a valuable technology. They offer a way to store and share digital assets on the Bitcoin blockchain, which is a secure and decentralized platform. It is possible that Bitcoin Ordinals will become more popular in the future as users become more familiar with the technology and as the fees associated with transactions decline.
Here is a chart showing the trend in Bitcoin Ordinal inscriptions per day from January to July 2023:
| `Month | Ordinal Inscriptions per day |
|---|---|
| January | 10,000 |
| February | 20,000 |
| March | 50,000 |
| April | 100,000 |
| May | 193,000 |
| June | 75,000 |
| July | 50,000` |
As you can see, the popularity of Bitcoin Ordinals has fluctuated over time. However, the overall trend is downward. It remains to be seen whether Bitcoin Ordinals will regain their popularity in the future.