Bitcoin's BRC-20 Tokens Drive Market Cap and Network Congestion.
TL;DR Summary
The market cap of tokens built on top of Bitcoin's blockchain has approached $1 billion as ORDI, the first such token, was listed on major exchanges. BRC-20 tokens, an experimental framework for building fungible tokens on Bitcoin using Ordinals, have surged in value and number of tokens in circulation over the last few days. Ordi, which has a market cap of around $400 million, was listed for trading on Crypto.com and Gate.io, suggesting the experimental token is gaining mainstream adoption on cryptocurrency exchanges. The popularity of BRC-20 tokens is having a noticeable impact on Bitcoin transactions, overall.
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- Bitcoin starts week below $29K as BRC-20 craze ramps up network congestion, fees Seeking Alpha
- Bitcoin’s High Fees Create Controversy And Challenges Bitcoin Magazine
- Bitcoin Adoption Soars, Network Fees Skyrocket As BRC-20 Tokens Take Over Leading Blockchain The Daily Hodl
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