🚀 There has been a significant increase in transaction activities on Ethereum Virtual Machine (EVM) chains. According to Etherscan, 95% of these transactions can be attributed to inscriptions.

🌐 Ordinals inscriptions have gained popularity by adding unique data to transaction call data to create NFTs directly on the blockchain. This allows users to commit digital artifacts such as images and text directly to a blockchain.

🔍 Etherscan reveals a significant migration of this trend from the Bitcoin network to EVM compatible chains. Ethereum and other EVM chains perform this function within the transaction input data, without the need for the blockchain's native token.

⛽ The popularity of inscriptions has led to an increase in the number of daily transactions, increased gas fees and longer transaction times. The total gas fee spent on the inscriptions on December 16 reached approximately $8.3 million.

📈 The market effects of this trend are also profound. For example, the Bitcoin Frogs Ordinals collection emerged as the market leader with a capitalization of $182 million, and on December 17 secondary sales rose to $4.8 million.

🔧 Etherscan states that the phenomenon of inscriptions is a good stress test for blockchains and infrastructure providers and offers a unique opportunity to evaluate their limits and adaptability in the face of evolving demands.