4 days in the past, the market capitalization of all of the BRC20 tokens constructed on prime of the Bitcoin community was a modest $95 million. Nevertheless, over the previous 4 days, the BRC20 market valuation has seen great progress, rising by 192% and reaching $279 million.
Extra Than 13,000 BRC20 Tokens Constructed on Bitcoin Are Now Value $279M
The BRC20 token normal, which is constructed on prime of the Bitcoin community, is gaining momentum and the BRC20 token economic system is flourishing. As of Sunday, Might 7, 2023, the BRC20 token economic system is valued at $279.07 million, with roughly 13,530 tokens in circulation. This marks a major enhance 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 highest ten most beneficial BRC20 tokens as we speak are ordi, pepe, piza, meme, moon, punk, domo, oshi, xing, and shib. Ordi is at present 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 your entire BRC20 token market capitalization by greater than 71%.
Pepe, one other BRC20 coin (to not be confused with the ERC20 meme coin with the identical identify), has a market capitalization of round $17.6 million. The highest 5 BRC20 token market valuations, which embrace 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 Might 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. Whereas creators of those tokens have applied numerous provide caps, information 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 assume the longer term holds for the BRC20 token economic system? Share your ideas in the feedback part under.
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