{"id":1817,"date":"2023-05-09T07:48:59","date_gmt":"2023-05-09T02:18:59","guid":{"rendered":"https:\/\/news.cetoex.com\/?p=1817"},"modified":"2023-05-09T07:49:00","modified_gmt":"2023-05-09T02:19:00","slug":"brc-20-tokens-market-cap-near-1-billion-and-price-prediction","status":"publish","type":"post","link":"https:\/\/news.cetoex.com\/brc-20-tokens-market-cap-near-1-billion-and-price-prediction\/","title":{"rendered":"BRC-20 Tokens Market Cap Near $1 Billion and price Prediction"},"content":{"rendered":"\n

The market cap of BRC-20 tokens has surged in recent days as traders drive up the value of the Bitcoin-based ORDI, MEME, and more.<\/h2>\n\n\n\n
\"Source:<\/figure>\n\n\n\n

<\/a><\/p>\n\n\n\n

Cetoex News – <\/strong> Meme token fever is sweeping through\u00a0Bitcoin, as the market cap of tokens built on top of the leading cryptocurrency\u2019s blockchain approached $1 billion on Monday after ORDI\u2014the very first such token\u2014was listed on major exchanges.<\/p>\n\n\n\n

According to\u00a0brc-20.io, which tracks the nascent market for tokens minted on the Bitcoin blockchain, the market cap of all BRC-20 tokens combined totals around $991 million, as of this writing. The market has surged in value, as well as number of tokens in circulation, over the last few days.<\/p>\n\n\n\n

Short for “Bitcoin Request for Comment,” BRC-20 is an experimental framework for building fungible tokens on Bitcoin using\u00a0Ordinals, the protocol that enables people to mint\u00a0NFT-like assets on Bitcoin called inscriptions.<\/p>\n\n\n\n

BRC-20 tokens have existed for two months. They were\u00a0pioneered\u00a0by the pseudonymous on-chain data enthusiast Domo, who took inspiration from the\u00a0ERC-20 token standard\u00a0on\u00a0Ethereum\u00a0and launched a token called ORDI on March 8.<\/p>\n\n\n\n

Since then, Ordi has reached a market cap of around $400 million, according to brc-20.io. Other BRC-20 tokens like PEPE (a different token than the\u00a0currently-hot Ethereum meme token\u00a0of the same name), MEME, PIZA, and DOMO have followed suit as Bitcoin goes through the kind of meme coin mania that has gripped the wider crypto market in the past with\u00a0Dogecoin,\u00a0Shiba Inu, and\u00a0BONK.<\/p>\n\n\n\n

Want to be a crypto expert? Get the best of Decrypt straight to your inbox.<\/h3>\n\n\n\n

On Monday, Ordi was listed for trading on\u00a0Crypto.com\u00a0and\u00a0Gate.io, suggesting the experimental token is gaining mainstream adoption on cryptocurrency exchanges. As of this writing, the price of Ordi was $18.50 on\u00a0Gate.io, a notable drop from its peak of $29.58 set earlier in the day.<\/p>\n\n\n\n

Still, the current price of Ordi represents a steep increase from its price just one week ago, when Ordi traded hands at $3.78 on May 1, according to\u00a0brc-20.io.<\/p>\n\n\n\n

The volatility of BRC-20 tokens highlights the emergent nature of the Ordinals space, as text-based inscriptions\u2014used to create and trade the tokens\u2014take over and image-based inscriptions become less common. Yesterday, over 399,000 inscriptions were text-based compared to 20 that were image-based, according to data from\u00a0Dune.<\/a><\/p>\n\n\n\n

A record number of daily inscriptions was recorded yesterday as well at over 400,000, pushing the total number of inscriptions made past 4.5 million since the Ordinals protocol took off in late January.<\/p>\n\n\n\n

The popularity of BRC-20 tokens is having a noticeable impact on Bitcoin transactions, overall. On Sunday, 65% of Bitcoin transactions were related to BRC-20 tokens, according to another Dune\u00a0dashboard, and leading crypto exchange Binance\u00a0briefly halted Bitcoin withdrawals\u00a0due to network congestion.<\/p>\n\n\n\n

Bitgert (BRISE) Price Prediction 2023<\/h2>\n\n\n\n

Bitgert is recovering from long bearish events in 2023. As per our Bitgert price forecast, it can reach a maximum price level of $0.000000923 this year. According to some market experts, the growth of crypto assets can be slow this year. If there is a bull rally in 2023, the prices of Bitgert may surge more than our prediction. However, the average price of Bitgert Coin can be around $0.000000671 this year. And if there is any bearish trend the minimum price of the Bitgert Coin can be down up to $0.000000485.<\/p>\n\n\n\n

NEWS BY – CETOEX NEWS<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The market cap of BRC-20 tokens has surged in recent days as traders drive up the value of the Bitcoin-based ORDI, MEME, and more. Cetoex News – Meme token fever… <\/p>\n","protected":false},"author":1,"featured_media":1818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[808,807,106,26],"class_list":["post-1817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alt-coin","tag-brc20","tag-brc20-market-cap","tag-crypto","tag-cryptocurrency"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/news.cetoex.com\/wp-content\/uploads\/2023\/05\/bitcoin-rocket-digital-illustration-gID_7.webp","_links":{"self":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/1817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/comments?post=1817"}],"version-history":[{"count":1,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/1817\/revisions"}],"predecessor-version":[{"id":1819,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/1817\/revisions\/1819"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media\/1818"}],"wp:attachment":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media?parent=1817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/categories?post=1817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/tags?post=1817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}