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BRC-20 tokens approach $1B market cap BRC-20 tokens approach $1B market cap James Van Straten · 2 years ago
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Insights Bitcoin

BRC-20 tokens approach $1B market cap

14,079 BRC-20 tokens minted on the Bitcoin blockchain push market cap close to $1 billion as miner fees skyrocket.

James Van Straten / @jvs_btc / May. 8, 2023 at 12:15 pm UTC

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.
Tokens: (BRC-20)
Tokens: (BRC-20)
Tokens: (BRC-20)
Tokens: (BRC-20)
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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