If you still have an inscription on your hand, this article will be uncomfortable to read.
It’s definitely harder to see the Portfolio go to zero, though!
There is a lot of FOMO in the Inscription market. Is there a warning sign of a peak?
Let’s talk to you today about what risks are currently emerging in the inscription market.
This article will tell you:
The reason why the inscription became popular
Inscription market top signal
Level of FOMO compared to March
Gas surge level
What is the possible reason for the popularity of Inscription Track?
There are no smart contracts in the Bitcoin ecosystem, only simple transfers and value storage, and UTXO’s capabilities are limited. At this time, someone thought of the inscription gameplay and created "similar" ERC20 and ERC721.
Next, according to the past "time machine theory" in the currency circle, when one chain becomes red, it will be changed to the next one.
So it’s ETH, Polygon, BSC’s turn
Where can I observe the heat of the inscription?
Mint completion time and gas fee are good indicators.
Mint completion time
Taking pepe and sats as examples, it takes a long time from launch to sold out. It took two weeks for pepe and six months for sats.
But last week, taking DFSN and pols as examples, they were finished by Mint in less than half a day.
Gas fees soar
During last week’s Mint, both brc20 and Prc20 gas fees were above average.
Brc20 gas at 300 gwei costs about 600U to mint, 4 times more than usual.
When Prc20 gas is 5177 gwei, the cost is 130 times higher than usual.
Although the project is launched fairly and everyone has a chance, gas determines your final Mint cost.
Using ultra-high gas to grab the opening, compared with those who used low-cost Mint in the early stage, they directly lost at the starting point.
When gas is soaring but there are still too many people with FOMO, this may be one of the market warning signs.
