(MENAFN- B2Press) A new one has been added to the developments that have left their mark on the crypto money world. BRC-20 cryptocurrencies, which recorded 682% growth in a week, managed to get a 6% share of transactions in the bitcoin ecosystem.
TURKEY - The latest trend in the world of crypto money, which is one of the rapidly developing ecosystems, has been the BRC-20 cryptocurrencies, which were developed in March and produced as exchangeable digital assets thanks to the Ordinals Protocol. According to the data tracked by the protocol's developer, Ordspace, it was seen that the number of BRC-20 cryptocurrencies consisting of the initials of the words "Bitcoin Request for Comment" exceeded 8,800 at the beginning of May, and the total market value increased by 682% at a week to over 137 million. Operating with the motto "The door to crypto", the crypto money exchange Gate.io has listed ORDI, which has the highest market value among the BRC-20 tokens, on its platform.
Received a 6% share of the Bitcoin market The BRC-20 standard, developed by an anonymous cryptocurrency analyst nicknamed Domo in early March to facilitate the printing and transfer of exchangeable digital assets on the Bitcoin blockchain, soon attracted the attention of investors. These cryptocurrencies, which emerged a few weeks after the release of the Ordinals Protocol, managed to take a 6% share of the total Bitcoin trade volume as of May.
Gate.io Turkey Research Manager Sevcan Dedeoğlu, who shared her assessments on the subject, said,“BRC-20 tokens, which allow developers to save text on the Bitcoin blockchain, have been one of the most interesting assets of the last period. As Gate.io, we closely monitor developments and care about our users' early access to current digital assets. In this context, we have listed ORDI, which has the largest market share among BRC-20 assets, on our platform.”
Bitcoin transaction fees fluctuate The intense interest in BRC-20 cryptocurrencies operating on the Bitcoin blockchain has caused fluctuations in transaction fees in Bitcoin. According to Bitinfocharts data, the average transaction fee in Bitcoin reached over $7 last week, reaching the highest level recorded since June 2021. Stating that BRC-20 cryptocurrencies do not use smart contracts and can only be traded with a Bitcoin wallet, Sevcan Dedeoğlu said,“In addition to ORDI, which is the smallest unit of Bitcoin, which can be divided into satoshis and created by writing content to satoshis, PEPE, PIZZA, MEME and We know that MOON cryptocurrencies currently account for more than 85% of the total market share of BRC-20 cryptocurrencies.“The BRC-20 started a new trend of 'joke assets' in the cryptocurrency ecosystem.”
“A range of more than 1,400 assets is expanding day by day” Reminding that they serve more than 12 million users worldwide in 224 countries, Gate.io Turkey Research Manager Sevcan Dedeoğlu concluded his evaluations with the following statements: We are improving the assets we list on the platform and the investment solutions we offer every day. ORDI has also been added among the more than 1,400 assets that can be traded on the Gate platform. We are following the BRC-20 trend and plan to continue listing cryptocurrencies that stand out in terms of market cap.
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