BTC Miners Set Record: $9.97M from Ordinal Transactions, 61% Inscription-Driven Transfers

BTC Miners Earned Record $9.97M from Ordinal Transactions (2)

On a regular Monday, December 18, miners hit the jackpot, scoring a massive $9.97 million. It was like striking gold in the crypto world, beating their previous win on May 8, 2023, when they bagged $7.21 million. Bitcoin’s value, climbing from $27,668 in May to dance between $41,668 and $42,666 on December 17, turned their hustle into a cash symphony.

In the real world of gold, the precious metal took a step back from its peak of $2,048 on a Friday, like a fading song. But the vibe was positive overall. The 14-day Relative Strength Index (RSI) stood strong above the midline, and the price stuck close to the 21-day Simple Moving Average (SMA) at $2,016—a solid combo for the hopeful traders.

Yet, gold, playing a lead role in this money drama, faced its plot twists. It had to sidestep a drop below the 21-day SMA to keep the good vibes going. A misstep and there might be a dive toward the 50-day SMA at $1,982. Breaking the $2,000 level seemed like a tough climb for gold sellers. On the flip side, crossing the tricky $2,040–$2,050 range was like finding the secret entrance to a magical place, crucial for getting back on the track toward the all-time high of $2,144—an ultimate peak in this financial adventure.

In the Bitcoin universe, miners had a financial bonanza, cashing in an eye-popping $9.97 million in the last 24 hours—way more thrilling than hitting the jackpot. This earnings surge, topping the charts on May 8, 2023, wasn’t just good luck; it echoed the growing love for Bitcoin and the rise in transaction fees, like a roaring applause in a packed theatre.

In the intricate digital world of Bitcoin, miners were the rockstars, rewarded for handling the digital notes—inscriptions—etched in its code. With nearly 50 million of these mysterious notes on the blockchain, miners celebrated their wins, grabbing over 235 Bitcoin on the special day of December 16, 2023—a day now etched in history as the third-highest peak in the Bitcoin transaction story, proving the strength and life of this digital currency.

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Daniel Martin
Daniel Martin is a highly accomplished forex trader from the United States. He has over 15 years of experience, and has gained a reputation for his exceptional insights and consistent profitability in the foreign exchange market. Born and brought up in New York, Daniel holds a degree in Economics and has a deep understanding of market dynamics. He is known for his disciplined approach, ability to interpret market patterns, and expertise in various trading strategies. Daniel actively shares his knowledge through articles, webinars, and seminars, and is committed to promoting ethical trading practices. With his passion and extensive experience, he continues to guide individuals towards financial success in the dynamic world of forex trading.