Bitcoin NFTs Protocol Ordinals Surpasses 100,000 Inscriptions
By BtcCasey

Using the Ordinals protocol, Bitcoiners have now inscribed over 100,000 pieces of data, including images, audio files and PDFs, directly onto the Bitcoin blockchain.
The platform, which allows for NFTs on Bitcoin has been rapidly adopted by a wide range of users, including artists and businesses, and has seen an increase in usage recently due to the growing popularity of NFTs.
One of the projects has sold for as much as 9.5 BTC or approximately $215,000 at the time of writing.

📲 New Zion App

Web5 App Zion Launches New Version, Raises $6M In Funding Round
By BtcCasey

Miami-based startup Zion has launched a new version of its app, which provides access to the Web5 decentralized social network and raised $6 million in a funding round led by XBTO Humla Ventures, bringing its valuation to $53 million.
The Zion protocol is designed to allow creators to own their communities while users have control over their online identity, and is based on Jack Dorsey’s Block’s Web5 standards and the Bitcoin Lightning Network.
Its features include a decentralized identifier system, decentralized web nodes, and a Bitcoin Lightning wallet. Zion has served over 3,000 creators, while processing over 120,000 transactions between creators and fans using Lightning.

📰 The Daily Bits

🙈 Decoupling Denial

Bitcoin's Correlation To Risk Assets
By Sam Rule

Bitcoin Magazine PRO analyst Sam Rule Examines the short-term versus long-term behavior of Bitcoin and how it trades in the market compared to its long-term thesis.
He looks at correlations and returns across Bitcoin and other asset classes, and notes that Bitcoin has acted as the riskiest of all risk allocations and a liquidity sponge.
However, he notes that he expects this dynamic to change as understanding and adoption of Bitcoin accelerate. Until then, Bitcoin's risk-on correlations remain the dominant market force in the short-term and are key to understanding its potential trajectory over the next few months.

MEME OF THE DAY

By @_AustinHerbert

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