According to data from Forkast Labs, the profitability of Ordinals inscriptions, a type of non-fungible token (NFT) on the Bitcoin network, decreased in July. The total revenue generated from NFT services, which includes marketplace fees and creator royalties on the Bitcoin network, dropped from US$3.13 million in June to US$1.22 million in July. This decline indicates a lower level of profitability for Ordinals sales on the Bitcoin network during that period.

Ordinals is a version of non-fungible tokens (NFTs) that exists on the Bitcoin blockchain, which is the world's pioneering and most extensive blockchain network in terms of market capitalization. As of the most recent Tuesday, Bitcoin's market capitalization stood at US$562 billion, accounting for a significant 48.2% share of the entire cryptocurrency market.