It's also worth to mention pace of UTXO growth remain unchanged since Ordinal-based token become popular[1]. Few months ago i mentioned massive UTXO growth at ~102.5 million UTXO[2], but now we're looking at 119.9 million UTXO[1].
When someone makes a monkey on bitcoin ordinals, does that increase the size of the utxo set though? I didn't think the monkey got stored in the utxo set...
Ordinal data indeed isn't stored on UTXO set. But,
1. There are so many new Ordinal inscription created.
2. When you create new inscription, Ordinal create 2 TX. 2nd TX usually have 1 input and 2 output. 1 input refer to "monkey" (arbitrary data) and 2 output which rerepsent change address and new UTXO which represent ownership of that Ordinals.