Insights

BRC-20 tokens approach $1B market cap

exchange68September 13, 2024

0 1 1 minute read

Quick Take

A total of 14,079 different tokens have been minted using the BRC-20 standard.
BRC-20 is a token standard on the Bitcoin blockchain, named after Ethereum’s ERC-20. The idea of BRC-20 is to create fungible tokens via the Ordinals protocol.
However, BRC-20 tokens don’t use smart contracts. They require a Bitcoin wallet to mint and trade tokens.
There are 14,079 tokens, with a market cap fast approaching $1 billion.
The meme coin craze has contributed to a significant rise in transaction fees for miners.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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