Four days in the past, the market capitalization of all of the BRC20 tokens constructed on high of the Bitcoin community was a modest $95 million. However, over the previous 4 days, the BRC20 market valuation has seen great progress, rising by 192% and reaching $279 million.
More Than 13,000 BRC20 Tokens Built on Bitcoin Are Now Worth $279M
The BRC20 token customary, which is constructed on high of the Bitcoin community, is gaining momentum and the BRC20 token financial system is flourishing. As of Sunday, May 7, 2023, the BRC20 token financial system is valued at $279.07 million, with roughly 13,530 tokens in circulation. This marks a big improve from simply 4 days in the past when the BRC20 token market capitalization was $95 million and there have been round 10,487 BRC20 tokens.
The high ten most beneficial BRC20 tokens right this moment are ordi, pepe, piza, meme, moon, punk, domo, oshi, xing, and shib. Ordi is presently probably the most beneficial BRC20 coin, with a single ordi token exchanging arms for $9.46. With a market valuation of $200 million, ordi dominates the whole BRC20 token market capitalization by greater than 71%.
Pepe, one other BRC20 coin (not to be confused with the ERC20 meme coin with the identical title), has a market capitalization of round $17.6 million. The high 5 BRC20 token market valuations, which embody ordi, pepe, piza, meme, and moon, account for 86.55% of the $279.07 million whole. Not solely is ordi the highest BRC20 coin in phrases of market capitalization, but it surely has additionally generated $3.1 million in 24-hour commerce quantity.
As of May 7, 2023, Dune Analytics recorded 3.11 million BRC20 transactions. Bitcoin miners have earned 214 bitcoin (BTC), which is equal to $6.2 million, from the BRC20 ecosystem. While creators of those tokens have carried out varied provide caps, knowledge from brc-20.io reveals that out of the highest 118 BRC20 tokens by market cap, 80 of them have opted for a max provide of 21 million.
What do you suppose the longer term holds for the BRC20 token financial system? Share your ideas in the feedback part beneath.
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