![BRC-20 tokens approach $1B market cap](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/03/bitcoin-Insights-2.jpg&w=70&h=37&q=75)
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)](https://cryptoslate.com/wp-content/uploads/2023/05/BRC.png)
![Tokens: (BRC-20)](https://cryptoslate.com/wp-content/uploads/2023/05/ordi.png)