A report from Glassnode found that for the first time in Bitcoin’s 14-year history, some of the network activity encapsulates purposes other than peer-to-peer monetary transactions via Bitcoin (BTC).

As stated by Glassnode in a February 13 report, This is a new and unique moment in Bitcoin history, where an innovation is generating network activity without a classical transfer of coin volume for monetary purposes.”

This portion of activity has been intensive with Ordinals activity, which is the Bitcoin nonfungible token (NFT), which has tipped the quantity of non-zero Bitcoin addresses to a new all-time high of 44 million. The surge in Ordinals activity is attributed to a “short-term uptick in Bitcoin network usage of late”, according to Glassnode, which has attracted many new active users with non-zero BTC balance in their wallets to the network.

The Ordinals network has gained immense momentum lately, with over 76,000 NFTs being minted to Bitcoin to this day.

Sources:

https://cointelegraph.com/news/bitcoin-hits-record-44m-non-zero-addresses-thanks-to-ordinals-glassnode

https://decrypt.co/121243/ordinals-gain-momentum-with-76000-nfts-minted-to-bitcoin