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Two main factors:
1. Burn rate > revenue — Ordinals activity peaked in 2023 with millions in daily fees, but it has since dropped significantly from its highs. Ord.io lacks a solid business model to convert 1 million users into revenue.
2. Zap failed to gain traction — Zap is a self-custodial app designed for users to sign up, buy, and trade Bitcoin memecoins in under 30 seconds. While the 30-second target was met, the platform failed to attract enough users.
#BTCSurpassesTeslaMarketCap #BitcoinOrdinalsBrowserOrd.iotoShutDown #GrayscaleCardanoETF
$BTC
Two main factors:
1. Burn rate > revenue — Ordinals activity peaked in 2023 with millions in daily fees, but it has since dropped significantly from its highs. Ord.io lacks a solid business model to convert 1 million users into revenue.
2. Zap failed to gain traction — Zap is a self-custodial app designed for users to sign up, buy, and trade Bitcoin memecoins in under 30 seconds. While the 30-second target was met, the platform failed to attract enough users.
#BTCSurpassesTeslaMarketCap #BitcoinOrdinalsBrowserOrd.iotoShutDown #GrayscaleCardanoETF
$BTC