Bitcoin Sees Second Highest New Inscriptions Ever: 400K Added!

• Bitcoin saw a record high of 400,000 new Ordinal Inscriptions added to the blockchain on Aug. 7.
• Coinbase sees more revenue from subscriptions and services than fees.
• Options implied volatility dropped but market still expects turbulence.

Bitcoin Sees Second Highest Number of New Inscriptions

A total of 400,000 new Ordinal Inscriptions were added to the Bitcoin blockchain on Aug. 7 – the second-highest number ever according to data from Glassnode. The previous high was recorded at the end of July when around 420,000 new Inscriptions were added.

Coinbase Generates More Revenue From Subscriptions & Services

Coinbase has seen more revenue from subscriptions and services compared to fees over the past few months as more users have opted for its premium products and services such as staking rewards and institutional custody solutions. This has resulted in an overall increase in Coinbase’s revenues despite fluctuations in the cryptocurrency market’s prices over the same period.

Options Implied Volatility Drops

Options implied volatility (OIV) dropped by almost 2% since August 1st, indicating that investors are expecting less turbulence in the crypto markets in coming days ahead as compared to previous weeks where OIV had spiked significantly due to increased trading volume and market uncertainty caused by news related to macroeconomic events like US stimulus packages or Brexit negotiations etc.. This suggests that traders are becoming more confident in their positions even though they may be expecting some price corrections down the line due to these factors mentioned above.

NFT Gas Usage On Ethereum Reaches Two Year Low

The gas usage on Ethereum for Non-Fungible Token (NFT) transactions has reached a two-year low recently according to data from Dune Analytics . This could be attributed to a decrease in demand for NFTs which is likely due to a combination of factors such as lower interest rates, higher transaction fees and reduced liquidity resulting from recent DeFi projects moving tokens away from exchanges into yield farming protocols etc..

Bitcoin Price Rises To $29,200 With Record Unemployment Rate Of 3.5%

The price of Bitcoin is currently at $29,200 after a significant rally that began earlier this month with unemployment rate dropping below 4 percent for first time since February 2020 , hitting 3.5%. The drop in unemployment rate could be partially attributed to increasing acceptance of digital assets among large financial institutions who are now investing heavily into cryptocurrencies like Bitcoin .