Good morning, fellow DailyCoiners,

An interesting feature of this weekend’s Monaco Grand Prix is that attendees can receive an NFT ticket issued on the Polygon blockchain. 

Ok, rev your engines, and let’s go!

• 🌊 Ether's Low Tide

• 🌴 CBDC's Tropical Test

• 💰 Unprecedented Growth in Inscriptions

📶 Ether's Shrinking Exchange Balance: An Unexpected Bullish Signal!

Ether's Balancing Act: The Ether (ETH) held on exchanges has plummeted to its lowest since January 2018. 

As Glassnode data reveals, the current ETH balance on exchanges is down to 18.4 million ETH—only a tenth of the total ETH supply. 📉What's the silver lining here? This drop is actually a bullish omen for the Ethereum network, hinting that investors are clasping onto their ETH rather than selling it.Low supply indicates rarity…rare things have a higher price. 💎Whether it's a move towards cold storage for hacker-proofing or engaging in DeFi applications, the declining balance indicates rising faith in Ethereum's long-term prospects. So, while Ether's exchange balance takes a dip, investor confidence seems to be riding the wave!Surfboards at the ready, folks!

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🇧🇷 Visa, Microsoft in Brazilian CBDC Test Drive: A Digital Real-ity Check!

Real-ly Digital: Visa and Microsoft are buckling up for a Brazilian central bank digital currency (CBDC) pilot. 👨‍✈️

The Central Bank of Brazil (BCB) is steering this initiative to explore the CBDC's viability for cross-border payments. The tech giant and payments behemoth contribute their expertise, with Visa handling payment processing and Microsoft powering it with cloud computing. Over the next six months, the pilot will test the CBDC's potential for Brazil-Portugal cross-border payments. ✈️The BCB anticipates the pilot to help craft a secure and efficient CBDC. A successful test drive might gear Brazil up for a full-fledged CBDC launch, bringing a digital "real" closer to reality. Given the skepticism about CBDCs, let’s watch this one closely!

🧠 Bitcoin Ordinals NFT Inscriptions Soar Past 9 Million Mark, Lauded as 'Catalyst for BTC Adoption.'

Bitcoin Boom: In an emerging trend highlighting the growing popularity of NFTs, the number of inscriptions for Bitcoin Ordinals NFTs have crossed the 9 million mark. 

Bitcoin NFTs, aka Ordinals Inscriptions, a unique protocol that allows for various objects, including art, memes, profile pictures, and even games, to be inscribed on Bitcoin's Blockchain, is witnessing unprecedented adoption. 

In fact, the number of inscriptions tripled in May alone, soaring from 3 million to more than 9 million. 💥

Impressive!

Data from Dune indicates the Ordinals NFT inscriptions are predominantly of the text type, followed by image and application types. 

MicroStrategy's founder and prominent figure in the crypto space, Michael Saylor, has expressed enthusiastic support for the Bitcoin Ordinals NFT protocol. 

He recently referred to the explosion in Bitcoin Ordinals inscriptions as a "catalyst" for Bitcoin adoption. 

This recent trend in Bitcoin Ordinals certainly strengthens that belief.

I know, right? I didn’t think it was possible to increase Saylor’s Bitcoin Belief! 🤣

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