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Ordinals

All articles tagged with #ordinals

cryptocurrency1 year ago•2 min saved

Bitcoin Surges Past $72K, Sparking $115M in Market Liquidations

Bitcoin surged above $71,000 in anticipation of the upcoming reward halving, leading to increased bets in the Ordinal and BRC-20 ecosystem. The halving will reduce the rate of new coin creation and has historically preceded a bull market for the cryptocurrency. Open interest in BTC-tracked futures remains high, indicating leveraged bets on expected price volatility. Ordinals volumes surpassed those of Ethereum and Solana, while BRC-20 tokens saw gains, with some projects rising significantly.

via CoinDesk|

#bitcoin #brc-20 #cryptocurrency

cryptocurrency2 years ago•2 min saved

The Rise of Memecoins: PEPE and Dogecoin Lead the Frenzy.

The emergence of memecoins and nonfungible tokens (NFTs) on the Bitcoin blockchain has led to a seismic shift in the revenue profile of miners, with transaction fees making up over 40% of revenues at one point in May. The Ordinals software protocol paved the way for NFTs and memecoins to come to the network, and the Bitcoin NFT ecosystem could be worth $4.5 billion by 2025. While some argue that the Ordinals phenomenon clogs the network and interferes with Bitcoin's store-of-value and payments functions, others believe it has created a pathway to uses of the Bitcoin network that didn't exist before.

via Fortune|

#bitcoin #cryptocurrency #memecoins

cryptocurrency2 years ago•2 min saved

BitGo's Go Network and BRC-20 Tokens Drive Surge in Bitcoin Inscriptions on Leading Exchanges.

The number of Ordinals inscribed on the Bitcoin network has reached an all-time high of 58,179 due to the recent creation of "Bitcoin Request for Comment" (BRC-20) tokens on the Ordinals protocol. BRC-20 tokens utilize Ordinal inscriptions to deploy token contracts, mint tokens, and transfer tokens, similar to Ethereum's ERC-20 token standard. The surge in Ordinals is believed to be driven by the recent launch of new tools to interact with BRC-20 tokens. While the market cap of BRC-20 tokens currently sits at less than $10 million, digital asset investment firm Galaxy Digital believes the "Bitcoin NFT" market may reach $4.5 billion by 2025.

via Cointelegraph|

#bitcoin #blockchain #brc-20-tokens