The question is where does this huge influx of normal transactions come from?
Discussion
Iām not yet tracking outspends of inscription txs and I assume that represents some of this new activity.
Plus, who knows how much of it is people moving sats into ordinal wallets so they can participate, etc, etc.
Presumably a lot of the new activity is related to this crap, but itās impossible to know exactly how much of it is except by inference.
Are the figures in this article realistic?
For the last 8 days Iām seeing ā420K total inscriptions written to blocks. The total number of 2.5M from Glassnode as of the 5th is probably right, I donāt have data for January, February, or March yet so I canāt compare my numbers to Glassnodeās, but I assume they are probably correct.
But I donāt have any clue where āDuneā got their numbers from. That smells like bullshit unless they are counting pending transactions or all transfers or something else.