Tap Protocol Dominates Bitcoin Ordinals and Superchief Launches Art Gallery

By: Eva Baxter

Genii Data has reported that Tap Protocol, developed to support DeFi applications on Bitcoin Ordinals, has outranked BRC20 in the Ordinals network's 24-hour transaction activity. Evidently, Tap Protocol conducted nearly double the number of transactions in comparison to BRC20 and OrdDefi in the past day.

Funding for Tap Protocol has recently been wrapped up with a significant $4.2 million round led by Sora Ventures. This funding is earmarked for the expansion of Tap's developer team and fine-tuning the protocol functionalities, which more than 14 projects have already incorporated into their operations.

Simultaneously, the Superchief Gallery is opening its latest branch in San Francisco. Touted as the world's first gallery dedicated to Bitcoin Ordinals art, this represents a novel way to integrate cryptocurrency with reality.

The surge in Tap Protocol's user adoption and its dominance in Ordinals transactions underscores the dynamic and evolving landscape of the Bitcoin network. This development progress throws a spotlight on Bitcoin protocols, as additional infrastructure building becomes incentivized.