Ordinals

Bitcoin Ordinals NFTs are based on ordinal theory, which aims to give each satoshi (the smallest denomination of Bitcoin) individual identities, where satoshis can be inscribed with data — such as pictures, text, or videos — through a Bitcoin transaction. This allows one satoshi to be different from another, hence becoming non-fungible, and each can be tracked, transferred, and imbued with unique meanings.

Unlike NFTs on other blockchains, Ordinals NFTs contain the entire metadata on the Bitcoin blockchain. In other words, Ordinals NFTs exist directly on the Bitcoin blockchain and not on a separate layer from Bitcoin. This is viewed by many as having an increased level of immutability.

Key Takeaway

Ordinals are a means of creating Bitcoin NFTs by inscribing information onto individual satoshis.

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TradFi

Traditional finance, or TradFi, is a conventional approach to financial activities that relies on established institutions, such as banks, insurance companies, investment companies, and stock exchanges.

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Collection Value

Collection Value is the aggregated monetary value of all the NFTs in a collection.

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The NFT Sales Volume Index (7D) shows the price and number of editions of a non-fungible token (NFT) collection sold over a 7-day (7D) period.

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24H Volume

24H Volume shows the number of a cryptocurrency’s tokens traded over a 24-hour time frame.

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7D

7D, short for seven days, refers to price data that has been collected for a cryptocurrency over a 7-day period.

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Floor Price

Floor Price is equal to the lowest-priced NFT in a collection.

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Gas (ETH)

Gas is the cost of a transaction on the Ethereum network.

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