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Binance Wallet Removes Inscription Market: Where Will the Bitcoin Ecosystem Go?
Editor
2024-12-11 22:03 4,624

In the comments at the end of yesterday's article, I saw that many readers mentioned that "X An has removed the inscription". My first reaction was: Could it be that X An has removed the inscription? Trading pairs for all Inscriptions (including ORDI)?

I learned that the delisting here only means that its wallet no longer supports Inscription transactions, which is very different from the platform not supporting Inscription transactions.

I guess many users have misunderstood this message.

Estimated to be affected by this news, when I wrote the article, the price of ORDI fell to $33.

There are many comments on the Internet about the subsequent impact of this incident. There is one opinion:

X'an's support and development of the Bitcoin ecosystem lags behind many other exchanges, so this matter has limited impact on Inscription.

I think this can be seen in the short term, but in the long term, this incident may indirectly indicate X An’s assessment and prediction of this track.

Inscription, especially ORDI, in my opinion is a starting point and support for this round of ecological innovation and explosion of Bitcoin applications.

Let’s take a look at the most prosperous DeFi ecosystem in the Bitcoin ecosystem. There are almost none that do not support inscriptions, and many applications will support ORDI first after they go online. .

Without the inscription assets, Bitcoin’s application ecosystem would feel like water without a source or a tree without roots.

So any platform that pays attention to the Bitcoin application ecosystem cannot ignore Inscription, let alone ORDI. For the exchange, it should increase its support for inscriptions.

However, X An is now removing support for inscription transactions from the wallet, which shows:

X'an probably won't take this as its key development direction in the future, and will be more cautious about this track.

To some extent, I think so too. I have written several articles on this beforeSimilar views have been expressed in the chapters.

Judging from the current development and progress in all aspects, the application development of the Bitcoin ecosystem is relatively worrying. At present, the subsequent development of various once promising technologies seems to be It has not caused any big waves, nor has it prompted the Bitcoin application ecosystem to develop more distinctive applications.

Binance no longer supports the transaction of inscriptions in the wallet. I estimate that in the future, it will gradually weaken the support for other Bitcoin assets (such as runes, etc.) support or at least will not invest more energy in developing new applications.

In addition, if the Bitcoin application ecosystem continues to slump, I think there is no shortage of possibilities for other exchanges to follow up with similar operations. After all, maintaining support for these applications or even developing new features requires a lot of money. Why continue investing if you don’t see results?

My operations on these assets were also roughly mentioned in the previous article:

In the short term (at least until next year), I estimate that with the rotation of sectors, whether it is inscriptions, runes or other assets in the Bitcoin ecosystem, there will still be a wave of growth, but in the long term there is still great uncertainty. So I would take advantage of that surge to clear out most of these assets.

Keywords: Bitcoin
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