![Bitcoin Flips Ethereum in Fees Amid Ordinals Revival](https://coincult.com/wp-content/uploads/2023/11/43567561055_f10c5d2708_c.jpg)
Bitcoin transaction costs have jumped higher than Ethereum’s due to a revived interest in Ordinals-coded properties. Daily fees for Bitcoin transactions have surpassed those of Ethereum due to an uptick of Ordinals-linked hustle on the Bitcoin network.
As of November 20, the ordinary daily fee for a Bitcoin transaction was pinned at $10.34. In contrast, Ethereum transactions averaged $8.43 as per BitInfoChart data.
The everyday cost for Bitcoin trades hit a fresh half-year peak on November 16, landing at $18.67. At the same time, charges for Ethereum transactions rose to $7.90.
This unexpected increase in Bitcoin’s transaction costs results from renewed interest in assets marked by the Ordinals Protocol. This is a tool used in Bitcoin for the creation of assets similar to nonfungible tokens (NFTs) and BRC-20 tokens.
Ordinals Rally: Binance Boost and $7.5M Seed Round
From September 25 to October 23, Ordinals-based assets remained quiet. However, Dune Analytics data shows a sharp rise starting in late October.
Starting October 24, over six million of the Ordinal assets appeared. This led to an additional 800 BTC in fees, almost $30 million, returning to the network.
There was a noticeable rise in Ordinals inscription activity when ORDI, the second most significant BRC-20 token based on market cap, got listed on Binance on November 7. This event sparked broad BRC-20 purchasing activity among traders.
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The ORDI token’s price experienced an over 50% leap that day. Moreover, on November 17, the project Taproot Wizards, founded on the Ordinals platform, revealed a $7.5 million seed round.