Insights

BRC-20 tokens lose $600 million in market cap within four days

exchange68September 13, 2024

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Quick Take

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.

Average fee paid per block: (Source: Glassnode)

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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