The introduction of Bitcoin Ordinals in January caused a stir among the cryptocurrency community due to the position of the platform within the Bitcoin ecosystem. Users are discussing whether or not these new use cases for Bitcoin provide new use cases for Bitcoin or whether or not they take away the idea of ​​Bitcoin as a peer-to-peer currency system.

OrdinalHub is the leading platform for Bitcoin-based non-fungible tokens (NFTs), and Bitcoin (BTC) mining company Luxor Mining decided to acquire it. This decision was made despite the opinion of the Bitcoin community on the Bitcoin-based non-fungible token (NFT) problem.

The announcement was made on February 20, and at that time 150,000 registrations (Ordinals) had already been made. This represented an increase of 1,500% since the beginning of the month.

Luxor drew attention to the issue that it is currently impossible for collectors and developers to keep track of all projects, as Bitcoin Ordinals are minted and “deposited” in numerous Discord groups. It is said that OrdinalHub would address this issue in its capacity as a “central hub” for the community.

Ordinals has opened the door to exciting new monetization techniques for Bitcoin miners, as Luxor CEO Nick Hansen noted, praising the unique aspects of Ordinals and how they can establish “synergies between the company’s mining pool and OriginalHub”.

On February 22, OrdinalHub made an announcement on Twitter about the purchase, to which people responded with generally good thoughts about the new development.

On the other hand, several users continued to express skepticism about the purchase as well as enthusiasm for Ordinal in general, stating that the “boom might be gone.”

Non-fungible standard tokens have seen hype cycles, with the most recent reaching their nadir in late 2022. However, a recent analysis by DappRadar indicates that they are gradually coming back after seeing a 37% increase in transactions from the month. from December 2022 to January 2023.