Inscriptions and BRC-20s have served as significant catalysts for activity in the Bitcoin ecosystem over the past year. They have also invigorated developer communities by drawing in new talent, accelerating the pace of project updates, and generating innovations within the Bitcoin ecosystem.
Despite being in its infancy, the landscape of Bitcoin Ordinals has branched out into various sectors, such as DeFi, NFTs, and tooling, fostering a small yet growing ecosystem.
Inscriptions have also expanded beyond Bitcoin to a range of other EVM-compatible chains. Trading activity initially surged, causing network outages in some instances, but has since subsided significantly. Considering that these EVM-compatible chains possess native smart contract functionality and the trade-offs associated with using off-chain indexers, it remains to be seen if inscription activity on EVM-compatible chains will experience a resurgence.
In this report, we also shine light on a few platforms through which users can participate in inscriptions. These include trading, inscribing, and storing inscriptions and BRC-20 tokens, among other actions.