According to BlockBeats news, on January 22, according to Magic Eden market data, RSIC is currently quoted at 0.0216 BTC, and the transaction volume in the past 2 hours has exceeded 6 BTC.

According to the official introduction, RSIC (Rune Specific Inscription Circuits) is a peer-to-peer rune distribution system based on Bitcoin. At its core, RSIC is a digital game in which players manage and operate RSIC tokens to earn runes that will be “engraved” on the Bitcoin network at some point in the future.

In the RSIC supply chain, there is a "factory" that produces RSIC, a "distribution center" that distributes RSIC, and a "furnace" used to inscribe runes. A total of 21,000 RSIC were manufactured and distributed free of charge to the Ordinals community via distribution centers for use in "mining" runes.

The main goal of players is to activate and utilize RSIC to obtain runes, which are assigned to addresses holding activated RSIC in every Bitcoin block. There are four modes for distribution of runes: flat, random, enhanced and halved. Players can choose to mine runes, sell RSIC on the market, or choose not to participate.

BlockBeats reminds: The Inscription protocol on Bitcoin is still in the early stages of development, and there are no clear value use cases yet. Users should pay attention to risks during the participation process and beware of being deceived.

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Since the U.S. Securities and Exchange Commission (SEC) approved the Bitcoin spot ETF, the price of Bitcoin has dropped significantly, from as high as $48,969 on the 11th to currently fluctuating around $41,500. The market believes that this is related to the transformation of Grayscale GBTC into Bitcoin. After the currency spot ETF was launched, investors continued to sell large amounts to take profits as the negative premium approached zero.

According to data from BitMEX Research, after GBTC was transformed into a Bitcoin spot ETF, in the first six trading days as of last Friday, the total outflow of GBTC was as high as 2.8 billion U.S. dollars, with an outflow of 95.1 million U.S. dollars on the first day and an outflow of 484.1 million U.S. dollars on the second day. For US dollars, there was an outflow of US$594.4 million on the 3rd day, an outflow of US$460.6 million on the 4th day, an outflow of US$582.3 million on the 5th day, and an outflow of US$590.4 million on the 6th day.
Although some people in the market believe that one of the reasons for the sell-off of GBTC may also be related to its high management fee of 1.5%. The funds selling GBTC are likely to flow into other ETFs with lower management fees, but Bloomberg analyst Eric Balchunas said, He believes that only 10% of GBTC funds may flow out and eventually flow into the other nine ETFs, which is much less than people think.

Given that GBTC is currently the largest Bitcoin ETF in the world, holding more than $25 billion worth of Bitcoin, Ran Neuner, co-founder and CEO of Onchain Capital, previously warned that Bitcoin may face a period of selling pressure of $25 billion. It's a pretty big position, and even if only 20% is redeemed, that means there will be $5 billion of selling pressure in the market.

Therefore, Chris J Terry, chief architect of BTCdata, tweeted on the 21st that before the liquidation of GBTC is completed, the price of Bitcoin will continue to be flat or fall. In the next few weeks, there will be a sell-off of up to 25 billion US dollars. Grayscale will reduce the ETF management fee The decision to keep the rate at 1.5% will become the biggest strategic mistake in the history of cryptocurrency.
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The ETF code of Fidelity spot is called FBTC, and the price of $FBTC has been suppressed since the inscription was completed. The cost is 3-4 dollars, and it has been suppressed for a long time. You taste it, you taste it carefully~ So I bought the bottom and added a position. #FBTC

Looking around, are there any projects that can increase by 100 times? Almost none!
There are 60,000 projects in the BRC inscription market, and no more than 30 have a market value of hundreds of millions. How many times do you expect those projects with a market value of tens of millions to double?
Embracing low market capitalization and looking for value depressions is the most correct choice at the moment.#FBTCis undoubtedly a very good target. As an ETF spot application inscription, with a market value of just over 3 million US dollars, it has great potential and is one of the best!
According to historical data, Baidu Coin probably has the following characteristics:
1. Market value is about 50 million to 300 million
2. Issuing in a bear market cycle and has not experienced a real bull market yet
3. Have a background as a big investor
4. The longer the bottom shock lasts, the better
5. At this stage, FBTC has dropped 10 times, and the potential is infinite!
FBTC has these characteristics, FBTC 100 times is not a problem

#MyFirstFeedPost Welcome to Binance Square! Isn’t anyone buying Ancient Inscription FBTC?