bitcoin utility News

The increasing popularity of Bitcoin NFTs, or Ordinals, will positively impact the Bitcoin network’s security and attract developers to the ecosystem, according to Ordinals proponent Udi Wertheimer.

In addition to timely upgrades, the drop in transaction fees can be attributed to multiple factors, including falling market prices and lower mining difficulty.

The billionaire investor said a bigger focus on applications and utility outside of finance would bring more back to the crypto space and possibly reverse the declining market.

ATOM price booked triple-digit gains after the network built out its DeFi ecosystem and works on cross-chain bridges for ETH and BTC.

“I think that the days when folks believed that there’s only going to be Bitcoin, I think, are over,” said Asheesh Birla.