BRC-20 tokens surpass $1B market cap as wallet providers prepare integration By Cointelegraph
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On May 9, the total market capitalization of BRC-20 tokens surpassed $1 billion, with a total trading volume of $207.7 million in the past 24 hours. Some of the most notable deployed tokens include ORDI, NALS, VMPX, PEPE and MEME, with price variance of between +11% and -55% within the past day.
According to analysts at multichain wallet BitKeep, the BRC-20 token standard is a novel form of fungible token that “employs Ordinals and Inscriptions to create and manage token contracts, token minting, and token transfers, which are stored on the Bitcoin base chain.” Ordinals is a numbering system that assigns a unique number to each satoshi, or 0.00000001 Bitcoin (BTC), enabling its tracking and transfer. Meanwhile, the “inscription” process adds a layer of data to each satoshi, allowing users to create unique digital assets on the Bitcoin blockchain.
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On May 9, the total market capitalization of BRC-20 tokens surpassed $1 billion, with a total trading volume of $207.7 million in the past 24 hours. Some of the most notable deployed tokens include ORDI, NALS, VMPX, PEPE and MEME, with price variance of between +11% and -55% within the past day.
According to analysts at multichain wallet BitKeep, the BRC-20 token standard is a novel form of fungible token that “employs Ordinals and Inscriptions to create and manage token contracts, token minting, and token transfers, which are stored on the Bitcoin base chain.” Ordinals is a numbering system that assigns a unique number to each satoshi, or 0.00000001 Bitcoin (BTC), enabling its tracking and transfer. Meanwhile, the “inscription” process adds a layer of data to each satoshi, allowing users to create unique digital assets on the Bitcoin blockchain.
Continue Reading on Coin Telegraph
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