Ad
CryptoSlate on X
Follow us on X for instant crypto news and insights updates.
Follow @cryptoslate
 Ad
Insights
Bitcoin ETFs bring in over $6 billion in November after another $1 billion day Solana hits new $264 all-time high as DEX volume reaches $100 billion monthly milestone US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders Bitcoin surges to $97k as market leverage hits historic $63 billion Memecoin revival drives Solana DEX Raydium past Tether in fees
BRC-20 tokens lose $600 million in market cap within four days BRC-20 tokens lose $600 million in market cap within four days James Van Straten · 2 years ago
Insights Bitcoin

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

Data via Glassnode

BRC-20 tokens' market cap plunges from $1 billion to $385 million — decline in Bitcoin fees per block plays a crucial role in this change.

James Van Straten / @jvs_btc / May. 12, 2023 at 12:30 pm UTC

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.
BRC-20: (Source: BRC20)
BRC-20: (Source: BRC20)
Average fee paid per block: (Source: Glassnode)
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.

Latest Insights
Bitcoin ETFs bring in over $6 billion in November after another $1 billion day

Bitcoin ETFs bring in over $6 billion in November after another $1 billion day

Data via Glassnode 2 days ago
Solana hits new $264 all-time high as DEX volume reaches $100 billion monthly milestone

Solana hits new $264 all-time high as DEX volume reaches $100 billion monthly milestone

2 days ago
US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders

US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders

2 days ago
Latest Alpha Market Report
Polymarket: A revolution in prediction markets
Available exclusively via

Polymarket: A revolution in prediction markets

Andjela Radmilac · 1 day ago

CryptoSlate's latest report dives deep into Polymarket's evolution, its pivotal role in high-stakes prediction events like US elections, and the implications of its controversies on its market position.

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

In this insight

Bitcoin BTC (24h)
$98,258.02 -0.56%
Vol: $42.72B MCap: $1.94T

Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.

More about Bitcoin

Glassnode

Analytics, Research Company in Europe

Glassnode brings data intelligence to the blockchain and cryptocurrency space.

More about Glassnode

Featured Data Partner

Make better trading decisions with Glassnode

Most Viewed

 Ad
CryptoSlate on Substack cryptoslate.substack.com
Must-read crypto news & insights. Delivered daily.
Join 90k+ subscribers