After the Bitcoin accounting project SATS was launched on Binance, it triggered an accounting craze. The price of on-chain inscriptions continues to rise, prompting the major off-chain inscription communities to become active again. However, the legality of Rune Alpha token COOK has been questioned by the community, leading to serious FOMO sentiment. The Bitcoin network’s transaction fees and block rates have increased, indicating increased transaction activity. The inscription market, such as the EVM chain during the DeFi Summer period, has given birth to a new wave of development of Web3. At least 10 Bitcoin layer 2 networks are expected to be launched next year, indicating that the Bitcoin ecosystem and the Inscription Track will expand infrastructure and support more use cases. The market value of the inscription market has exceeded expectations, showing an underestimation of the entire inscription market.The launch of the Bitcoin accounting project SATS has undoubtedly injected new vitality into the entire Bitcoin ecosystem. It not only provides an innovative accounting method, but also attracts a large number of user participation, further promoting the popularity and application of Bitcoin.The rise of Inscription also marks a new wave of development in the Bitcoin ecosystem, and it is likely to become the focus of the DeFi market in 2023. This not only provides investors with more opportunities, but also plays a positive role in promoting the expansion and consolidation of the Bitcoin ecosystem.In the development process of the inscription market, we can also see some problems. For example, the legality of Rune Alpha token COOK has been questioned by the community, which may have a negative impact on the stability and development of the Bitcoin ecosystem. Therefore, it is crucial for investors to carefully study and understand these issues.As an observer, I can’t help but be excited about the rise of Bitcoin accounting projects SATS and Inscription Marketplace. Their emergence has injected new vitality into the entire Bitcoin ecosystem, and also provides us with a new perspective from which to observe and understand the development of Web0.Although the transaction fees and block rates of the Bitcoin network have increased, this does not affect the activity of transactions. This shows people’s confidence and enthusiasm for the Bitcoin ecosystem, and also indicates that more investors and developers may enter this market in the future.
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