According to the Dune Analytics dashboard, Bitcoin Ordinal minted more than 422,000 in a single day, setting a new high.
But due to lower prices and fewer buyers, Bitcoin Ordinal volume likely totaled about $65 million in July, down nearly 50 percent from June’s nearly $120 million volume.
The average selling price and number of buyers also dropped to around $460 per Ordinal during this period.
Launched in January, Ordinals allow the creation of NFTs on Bitcoin through a process known as inscription.