Bitcoin ordinals volume jumps while ERC-404 experiment loses steam

Plus, Binance sees blowback for its perfume launch and Coachella gives NFTs a second chance

article-image

Adobe and Stock Catalog/"Bitcoin and cryptocurrency" (CC license) modified by Blockworks

share

Following bitcoin’s all-time high this week, ordinal inscriptions have entered a trading frenzy.

Ordinals were launched on Bitcoin in January last year. They allow NFTs to be directly created on Bitcoin’s blockchain by attaching images, videos, memes and other forms of artwork to individual satoshis — Bitcoin’s smallest divisible unit.

Sales volume on Bitcoin ordinals increased by 25.43% this past week, reaching almost $173 million in trading volume and a NodeMonke ordinal sold for over $1 million.

Read more: Bitcoin returned to all-time high faster than ever before (almost)

But not all have been benefiting from the renewed interest in NFTs. Pandora, the team behind the experimental ERC-404 token standard, has seen its token dramatically fall in popularity. 

Sales volume for Pandora tokens dropped by 44% over the past week, and the price of its token has also dipped by 7.6%. 

Binance sparks outcry with perfume marketing stunt

“There’s still not enough women in crypto.”

While Binance’s suggestion that there are not enough women in crypto rings true, its approach to supposed remediation has sparked an outcry.

In order to bridge the gender gap, the centralized exchange’s solution was to launch a new fragrance line named CRYPTO.

Read more: Crypto marketing shouldn’t be a circus

This, obviously, was met with women in the space, including the likes of Arianna Simpson, a General Partner at a16z, calling the marketing stunt “the dumbest thing I’ve ever seen.”

Loading Tweet..

One interesting stat:

  • With elections ahead, the President Biden-themed Jeo Boden token pumped 1,400% Wednesday after US voters hit the polls, according to CoinMarketCap. 

Also of note:


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

The convergence of DePIN and energy generation aims to address modern grid challenges by incentivizing distributed generation.

article-image

US states are now competing for Bitcoin bragging rights

article-image

The deal is likely to fuel further M&A around derivatives trading and infrastructure, Architect Partners’ Michael Klena says

article-image

Stripe announced Stablecoin Financial Accounts, which will allow businesses to have “stablecoin-powered accounts”

article-image

The deal is made up of $700 million in cash and 11 million shares of Coinbase’s Class A common stock

article-image

Blockworks Research uses numbers to help crypto advance to a higher stage of storytelling