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BRC-20 tokens lose $600 million in market cap within four days
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.
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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.
