Bitcoin BRC-20 tokens near $1.5 billion market cap amid inscription frenzy

2023-11-13 13:45

Quick Take

The BRC-20 tokens, a token standard on the Bitcoin blockchain, have witnessed an unprecedented resurgence in trading volume and price. This resurgence became notably evident on May 8, 2023, when the total market cap of BRC-20 tokens approached a significant $1 billion.

Currently, the BRC-20 ecosystem, consisting collectively of 214 tokens, nears an even more impressive market cap of $1.5 billion.

Ordinals, the highest market cap currently at $460 million, stands out among these tokens. The value of one Ordinals token stands at $21, which is quite close to its all-time high of $29. This specific surge in the value of Ordinals, and consequently BRC-20 tokens, can be attributed to the frenzy surrounding the inscription over the last few weeks.

Yesterday, Nov. 12, marked an unprecedented milestone with over 500,000 inscriptions registered in a single day. This significant tally surpasses the peak of any previous day during the ongoing Inscription frenzy, pushing the total count beyond 40 million.

Inscriptions New Count: (Source: Glassnode)

The proportion of total transactions associated with Inscription files came close to reaching a staggering 70%. This indicates that the recent transaction surge is predominantly driven by Inscription activities.

Inscriptions Transaction Count Share: (Source: Glassnode)

The post Bitcoin BRC-20 tokens near $1.5 billion market cap amid inscription frenzy appeared first on CryptoSlate.

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Источник: cryptoslate.com

tokens brc-20 → Результатов: 48


BRC-20 developer Domo praises tokens for 6% of Bitcoin activity milestone

In a recent Bitcoin Startup Lab podcast episode, anonymous developer Domo spoke about the origins and future potential of the BRC-20 token standard he created for Bitcoin. Launched on March 8, 2023, BRC-20 tokens, which were developed using ordinal inscriptions of JSON data, are used to deploy token contracts, mint tokens, and carry out other related […] The post BRC-20 developer Domo praises tokens for 6% of Bitcoin activity milestone appeared first on CryptoSlate.

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OKX Proposes Industry-First BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking

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Why are Bitcoin transaction fees rising, and what are BRC-20 tokens?

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2023-5-24 17:28


OKX: Hub for Trading Bitcoin Ordinals

Leading Web3 technology firm OKX has announced plans to launch Ordinals Marketplace on OKX Wallet, enabling users to mint and trade Bitcoin Ordinals and BRC-20 tokens. This step highlights OKX’s ongoing support for the Bitcoin ecosystem, positioning the OKX Wallet as the only multichain wallet facilitating trading and minting of Ordinals, BRC-20 tokens, and NFTs […] The post OKX: Hub for Trading Bitcoin Ordinals appeared first on NFT News Today.

2023-5-17 23:14


OKX Wallet launches Ordinals Marketplace to support BRC-20 trading

The Ordinals Marketplace will offer features that include minting and trading of Bitcoin Ordinals OKX Wallet to support Lightning Network and staking for Stacks (STX) and BRC-20 tokens OKX to attend the Bitcoin Builders Conference in Miami OKX, one of the leading cryptocurrency exchanges and Web3 technology company, today announced the launch of Ordinals Marketplace […] The post OKX Wallet launches Ordinals Marketplace to support BRC-20 trading appeared first on CoinJournal.

2023-5-16 17:38


Фото:

BRC-20 tokens creating a frenzy as users pour BTC into minting tokens

BRC-20 tokens have created a frenzy over the last few days. Users are pouring BTC to mint the token that is settled on the Bitcoin Blockchain via Ordinals inscription. Bitcoin sidechain Mintlayer CEO Enrico Rubboli however feel that the technology to mint the BRC tokens is “heavily flawed and isn’t in line with the axioms […] The post BRC-20 tokens creating a frenzy as users pour BTC into minting tokens appeared first on Invezz.

2023-5-9 17:58


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Bitcoin addresses take an extreme nose dive

Bitcoin's record transaction counts due to the rise of BRC-20 tokens have revealed an intriguing anomaly: a negative correlation between transactions and active/new addresses. As these addresses hover around the 365-DMA, it begs the question: what's causing this unusual disconnect between transaction counts and address activity? Find out the hidden factors at play, and uncover how this could impact the future of the crypto market.

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