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🚨 BRC-20 tokens lose 600 million in market cap within four days
BRC-20 tokens' market cap plunges from $1 billion to $385 million — decline in Bitcoin fees per block plays a crucial role in this change.
🔴 On May 8, CryptoSlate reported that BRC-20 tokens hit a $1 billion market cap due to the soaring Bitcoin fees that miners were receiving.
🔴 Yesterday, CryptoSlate reported that inscriptions might have run their course, with the average fee paid per block down from six Bitcoin to one Bitcoin.
🔴 BRC-20 tokens now have around $385 million in market cap — which has seen a substantial market cap drop in the past few days
cryptoslate
#brc20 #brc20coins #marketupdate #crypto2023 #analysis
BRC-20 tokens' market cap plunges from $1 billion to $385 million — decline in Bitcoin fees per block plays a crucial role in this change.
🔴 On May 8, CryptoSlate reported that BRC-20 tokens hit a $1 billion market cap due to the soaring Bitcoin fees that miners were receiving.
🔴 Yesterday, CryptoSlate reported that inscriptions might have run their course, with the average fee paid per block down from six Bitcoin to one Bitcoin.
🔴 BRC-20 tokens now have around $385 million in market cap — which has seen a substantial market cap drop in the past few days
cryptoslate
#brc20 #brc20coins #marketupdate #crypto2023 #analysis
What is the BRC 20 standard in the Bitcoin network?
The BRC-20 "Bitcoin Solicitation for Input" standard was developed by an expert under the pseudonym Domo in March of this year.
The motivation behind the new standard is to work with the issuance and move of tradable tokens in the Bitcoin organization.
In any case, the pioneer was the Ordinals convention, which provided the world the capacity to coin NFTs on Bitcoin in late 2022.
It is vital to comprehend that the BRC-20 standard misses the mark on capacity to communicate with savvy contracts, in contrast to ERC-20 on Ether.
The heads of the BRC-20 standard were the memecoins PEPE and Image, as well as the new ORDI coin (from Ordinals)
The memecoin free for all prompted an over-burden of the Bitcoin organization.
#brc20 #brc20coins #Binance #amansaiofficial #crypto2023
The BRC-20 "Bitcoin Solicitation for Input" standard was developed by an expert under the pseudonym Domo in March of this year.
The motivation behind the new standard is to work with the issuance and move of tradable tokens in the Bitcoin organization.
In any case, the pioneer was the Ordinals convention, which provided the world the capacity to coin NFTs on Bitcoin in late 2022.
It is vital to comprehend that the BRC-20 standard misses the mark on capacity to communicate with savvy contracts, in contrast to ERC-20 on Ether.
The heads of the BRC-20 standard were the memecoins PEPE and Image, as well as the new ORDI coin (from Ordinals)
The memecoin free for all prompted an over-burden of the Bitcoin organization.
#brc20 #brc20coins #Binance #amansaiofficial #crypto2023
Litecoin transactions hit record high as Bitcoin fees surge amid BRC-20 frenzy
#crypto2023 #brc20coins #litecoin #BTC #gasfee
#crypto2023 #brc20coins #litecoin #BTC #gasfee