Bitcoin’s BRC20 Token Economy Skyrockets 192% to $279 Million in Just Four Days

Four days ago, the marketplace capitalization of each the BRC20 tokens built connected apical of the Bitcoin web was a humble $95 million. However, implicit the past 4 days, the BRC20 marketplace valuation has seen tremendous growth, expanding by 192% and reaching $279 million.

More Than 13,000 BRC20 Tokens Built connected Bitcoin Are Now Worth $279M

The BRC20 token standard, which is built connected apical of the Bitcoin network, is gaining momentum and the BRC20 token system is flourishing. As of Sunday, May 7, 2023, the BRC20 token system is valued astatine $279.07 million, with astir 13,530 tokens successful circulation. This marks a important summation from conscionable 4 days agone erstwhile the BRC20 token marketplace capitalization was $95 cardinal and determination were astir 10,487 BRC20 tokens.

The apical 10 astir invaluable BRC20 tokens contiguous are ordi, pepe, piza, meme, moon, punk, domo, oshi, xing, and shib. Ordi is presently the astir invaluable BRC20 coin, with a azygous ordi token exchanging hands for $9.46. With a marketplace valuation of $200 million, ordi dominates the full BRC20 token marketplace capitalization by much than 71%.

Pepe, different BRC20 coin (not to beryllium confused with the ERC20 meme coin with the aforesaid name), has a marketplace capitalization of astir $17.6 million. The apical 5 BRC20 token marketplace valuations, which see ordi, pepe, piza, meme, and moon, relationship for 86.55% of the $279.07 cardinal total. Not lone is ordi the apical BRC20 coin successful presumption of marketplace capitalization, but it has besides generated $3.1 cardinal successful 24-hour commercialized volume.

As of May 7, 2023, Dune Analytics recorded 3.11 cardinal BRC20 transactions. Bitcoin miners person earned 214 bitcoin (BTC), which is equivalent to $6.2 million, from the BRC20 ecosystem. While creators of these tokens person implemented assorted proviso caps, information from brc-20.io reveals that retired of the apical 118 BRC20 tokens by marketplace cap, 80 of them person opted for a max proviso of 21 million.

What bash you deliberation the aboriginal holds for the BRC20 token economy? Share your thoughts successful the comments conception below.

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