Inscriptions Fees Daily
Daily fees attributable to inscriptions transactions, computed via OP_RETURN heuristic. Approximation ~85-95% accuracy vs strict Ordinals (taproot witness post-2023 not captured).
What is it?
This metric computes fees attributable to inscriptions transactions via the OP_RETURN heuristic. Formula : op_return_txs × (fees_total / tx_count_total) where op_return_txs = `tx_count_with_op_return_output_sum_24h`. It isolates the share of miner revenue generated by the ordinals/inscriptions ecosystem from general revenue. It's a proxy as detection goes through OP_RETURN outputs - limitation : taproot witness inscriptions (post-2023) are NOT captured by this detection, systematic post-Ordinals genesis underestimation.
How to read
Log-scale Y axis recommended to absorb amplitude (inscription peaks reach several dozen BTC daily, pre-2023 baseline stays near zero). A rising curve indicates ordinals activity intensification (or rising average network fees). Peaks correspond to inscription waves (Ordinals genesis, BRC-20, Runes).
Key zones
Pre-Ordinals genesis (before 2023-01-20) : very low baseline levels, OP_RETURN usage was limited to historical metadata protocols (Counterparty, Omni, Stamps). Post-genesis 2023+ : structurally higher regime, with extreme peaks during BRC-20 waves (March-April 2023) and Runes (April 2024 post-halving). Post-Ordinals baseline level depends on ordinals sentiment and mempool demand.
What to observe
Compare inscriptions share / total fees : rising ratio = ordinals dominate miner economy. Compare with BTC price : ordinals fees peaks during sideways market = native on-chain activity (not price speculation). Extreme peaks can reach several dozen percent of total miner revenue - historically the 2023-2024 waves temporarily pushed this share above 50%.
Historical context
Before Ordinals genesis (2023-01-20) : minor OP_RETURN usage (Counterparty/Omni/Stamps). Post-genesis : gradual explosion with peak in March-April 2023 (BRC-20 mania) and new peak in November 2023 (sat names). The 2024-04-19 halving coincided with Runes launch, reviving inscription fees for several months post-halving. The metric is a direct thermometer of the ordinals ecosystem.
Expert notes
The OP_RETURN heuristic detects transactions with ≥1 OP_RETURN output - covers Counterparty (2014), Omni (2013), Stamps (2023-03), and majority of early Ordinals 2023 inscriptions. Taproot witness inscriptions (Casey Rodarmor 2023+ optimized technique) DO NOT GO THROUGH OP_RETURN - therefore not captured. Institutional approximation ~85-95% vs strict Ordinals aggregator. For absolute accuracy, requires a dedicated witness parser - out of native source scope. Trinity uses this heuristic to preserve the native-source pattern (vs external scrape).
Common mistakes to avoid
This metric systematically underestimates the real ordinals fees volume post-2023 (~5-15% gap vs strict aggregator). Not to be used for fine isolated ordinals analysis - it remains a reliable DIRECTIONAL indicator (high/low regime) but not an exact counter. For exact measurement, requires a dedicated taproot witness parser. The metric is useful for comparing relative phases (pre/post Ordinals, BRC-20 waves vs Runes).
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/inscriptions-fees-daily/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "inscriptions-fees-daily",
"timeframe": "1y"
}Required tier: free. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
Related metrics
Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.