Inscriptions Tx Share
Ratio of OP_RETURN transactions over total network transactions daily - proxy for ordinals adoption. Approximation ~85-95% accuracy (taproot witness post-2023 not captured).
What is it?
This metric computes the share of OP_RETURN transactions in the total network transactions, daily. Formula : tx_count_with_op_return_output_sum_24h / tx_count_24h. The ratio indicates the percentage of daily transactions containing ≥1 OP_RETURN output - direct proxy of inscriptions/ordinals market share in on-chain activity. Approximation ~85-95% accuracy vs strict Ordinals (taproot witness not captured).
How to read
Y axis as percentage. A rising ratio indicates increasing adoption of inscriptions / ordinals in the global transactional ecosystem. Peaks correspond to structural waves (BRC-20 March-April 2023, sat names November 2023, Runes April 2024). A stable low ratio (<5%) indicates a pre-ordinals regime ; a stable high ratio (>15%) indicates a dominant post-ordinals regime.
Key zones
Pre-Ordinals genesis (before 2023-01-20) : typical ratio <2% (marginal Counterparty/Omni/Stamps usage). Post-Ordinals : structurally between 5% and 30% depending on phases. Extreme peaks >30% during BRC-20 / Runes waves (mempool saturated with inscriptions). Stable post-Ordinals baseline around 10-15% in normal phase.
What to observe
Compare with `transfer-volume-momentum-btc` : high ratio + moderate BTC flows = ordinals activity numerically dominant but not in value (multiple small tx). Stable ratio despite fees peaks = sustained ordinals adoption. Gradual ratio decline indicates inscription ecosystem cooling ; growth indicates reacceleration.
Historical context
Pre-Ordinals genesis (before 2023-01-20) : ratio under 2% (Counterparty/Omni residual usage). Post-genesis 2023 : ratio quickly jumped to 15-25% within weeks. Peak >40% during BRC-20 wave (March-April 2023). Stabilization around 10-15% during summer 2023, then new peak November 2023 (sat names). Post-halving 2024-04-19 + Runes launch : ratio returned to levels >25% for several weeks.
Expert notes
Trinity substitution (pre-diag session #28 D4.b) : the originally proposed `inscriptions-size-daily` series would have required `op_return_value_sum_24h` (OP_RETURN bytes size) which DOES NOT EXIST on the Trinity on-chain source (HTTP 404). Downscope applied : atomic ratio tx_count_with_op_return_output_sum_24h / tx_count_24h, semantics consistent with family B inscriptions, source series confirmed live. Approximation ~85-95% vs strict aggregator.
Common mistakes to avoid
A high inscriptions ratio does not mechanically mean high economic volume : inscriptions create huge numbers of tx with very small unit value. A 30% ratio can represent <5% of transferred economic value. Cross with `inscriptions-fees-daily` to get the real fee share, and with `transfer-volume-momentum-usd` for value share. The ratio is useful for measuring NUMERICAL INTENSITY of the ordinals ecosystem, not its economic weight.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/inscriptions-tx-share/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "inscriptions-tx-share",
"timeframe": "1y"
}Required tier: pro. 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.