Trillion-Dollar Asset Manager Franklin Templeton Highlights Bitcoin Ordinals’ Impact on Innovation in Recent Note
Franklin Templeton, a trillion-dollar asset manager, has recently highlighted the impact of Bitcoin Ordinals on innovation in the crypto space in a note to its investors.
In a recent note , the company’s digital assets division, Franklin Templeton Digital Assets, introduced the concept of Bitcoin-based non-fungible tokens (NFTs).
According to Franklin Templeton, the Bitcoin Ordinals protocol has played a significant role in driving positive momentum and innovation within the Bitcoin ecosystem.
The asset manager said it observed a “renaissance in activity” on Bitcoin in the past year, largely attributed to Ordinals.
Additionally, the introduction of new fungible token standards like BRC-20 and Runes, Bitcoin-based layer-2 networks, and Bitcoin decentralized finance (DeFi) primitives have further contributed to the advancement of Bitcoin innovation.
In the note, Franklin Templeton acknowledged the accelerating activities within the Bitcoin NFT space.
The company noted the increasing dominance of Bitcoin within the broader NFT ecosystem, particularly highlighting the surge in trading volume for Bitcoin Ordinals.
“Bitcoin Ordinals have seen a surge in trading volume over the past several months. This is reflected in an increase in dominance starting in December of 2023 when it surpassed ETH in trading volume.”
Furthermore, Franklin Templeton highlighted several Bitcoin Ordinals collections that have begun to dominate the NFT space in terms of trading volume and market capitalization.
Notable collections include NodeMonkes, Runestone, Bitcoin Puppets, Ordinal Maxi Biz, and Bitmap.
The Rise of Bitcoin Ordinals pic.twitter.com/nKLwwlMM4d
— Franklin Templeton Digital Assets (@FTI_DA) April 3, 2024
While expressing
Read more on cryptonews.com
