Although the current market value of BRC-20 is more than twice that of Runecoin, friends who often play with the Bitcoin ecosystem can feel that the ecological vitality of BRC-20 is gradually being surpassed by Runecoin. Popular projects in the Western community such as PUPS and WZRD have all switched to the Runecoin ecosystem.
However, BRC-20 has another unique advantage, which is that it is the only Bitcoin asset protocol with two Binance spot targets, while Rune still has zero in this regard.
In the past two weeks, BRC-20 has become popular again due to the concept of "ground promotion", especially the "π". Is this a good thing or a bad thing? Is BRC-20 really not going to work?
Dr. Jin Gou said: BRC-20 is indeed not as popular as last year, but it cannot be said to be dead. After all, it is the first Bitcoin FT protocol after the Ordinals protocol, and its historical status is there.
The BRC-20 protocol and related facilities have been updated, but compared with its initial emergence, these are just minor changes. When it comes to "ground promotion", let's not rush to label "π" or "fifa", which is actually like a meme of an unfamiliar audience. Rune and BRC-20 did not accept each other before. The meme communities such as PUPS and BDC on Rune can also be regarded as "ground promotion" by foreigners. Every coin has to find a way to be accepted by people. If there is a breakthrough in this regard, "ground promotion" is not that bad.
Ivan thinks: BRC-20 is not popular now, but it can't be said to be bad. The market value and trading volume are OK, and Chinese investors are familiar with BRC-20 targets such as ORDI, SATS, and $PIZZA. Now the market is hot on Solana, and funds are flowing there. BRC-20 and Rune are waiting for the next opportunity.
PUPS and WZRD migrated to Runecoin probably because their audience is mainly Westerners, and moving to the Runecoin ecosystem can better expand the community. In addition, Binance has not yet listed Runecoin tokens, and once it is listed in the future, the breakthrough may be even greater.
Now "Ordinals are dead" is a joke. Last year, it was a bit self-deprecating and unconfident. At that time, it was even more pessimistic, and the joke was too big. The current situation of BRC-20 is much better than last year, and it cannot be said that it is no longer good.
I consider Rune and BRC-20 as one sector. If liquidity flows into the Bitcoin ecosystem, just like when Rune was popular last year, all BRC-XXX prices soared. People don’t care about true or false innovations, but are afraid that they have not gotten on board. It has nothing to do with the fundamentals of the project. They buy whichever is cheaper and whichever new project can get free chips.
From the user's perspective, the ecological infrastructure of BRC-20 has been iterating. No one can predict the time and opportunity for the next rise of BRC-20. What is important is that when the wind blows, the ecological infrastructure can receive greater liquidity.