Two months after the creation of a Bitcoin fungibility protocol, the total market cap of BRC-20 tokens has surpassed $1 billion.
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.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.
The BRC-20 token standard was developed by Twitter user domodata on March 8. Currently, there are over 14,000 BRC-20 tokens deployed on Bitcoin compared to an estimated 400 million tokens on Ethereum. Despite its traction, BitKeep researchers wrote,"BRC-20's creator has openly stated that the standard is worthless and that users should not waste money mass minting this fun experiment."1. These will be worthless. Please do not waste money mass minting.
2. Due to how some inscription tools are set up, the 'balance' may be minted to the intermediary address used in
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