On-chain data shows both Inscription and monetary-related Bitcoin transactions have neared their all-time highs (ATHs) recently.
Bitcoin Miners Rake In High Revenue As BTC Transfers Spike
As Glassnode’s lead on-chain analyst Checkmate pointed out in a new post on X, the miners have recently been handling more Bitcoin transactions of both types.
The types being referred to here are “Inscriptions” and non-Inscription transfers. The Inscriptions are transactions of Satoshis (where a Satoshi or Sat is the smallest unit on the network) with some data attached.
The data could be of any type: image, text, audio, or video. Thanks to Inscriptions, applications like Non-Fungible Tokens (NFTs) and BRC-20 Tokens have become possible on the Bitcoin blockchain.
Transactions of these Inscriptions are naturally different from the usual transfers of tokens on the blockchain, as the former involves the exchange of tokens and other applications (which may carry their own intrinsic but different val
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