BRC-20 tokens surpass $1B market cap as wallet providers prepare integration
The growth in BRC-20 tokens comes just two months after the creation of the Bitcoin token fungibility protocol. On May 9, the total market capitalization of BRC-20 Bitcoin token s surpassed $1 billion, with a total trading volume of $207.7 million in the past 24 hours. Some of the most notable deployed token s include ordi, nals, VMPX, pepe, and meme, with price variance of between +11% and -55% within the past day. According to analysts at multi-chain wallet BitKeep, the BRC-20 token standard is a novel form of fungible token that "employs Ordinals and Inscriptions to create and manage token contracts, token minting, and token transfers, which are stored on the Bitcoin base chain." Ordinals is a numbering system that assigns a unique number to each satoshi, or one hundred millionth of a Bitcoin (BTC), enabling its tracking and transfer. Meanwhile, the "inscription" process adds a layer of data to each satoshi, allowing users to create unique digital assets on th...