On Dec. 26, 2023, the Bitcoin-based BRC20 token, ORDI, soared to a record $81.34 per coin before declining over 14% from its peak. BRC20s have emerged as significant players in the crypto asset arena, with several tokens mirroring ORDI’s trajectory.
Bitcoin’s BRC20 Token ORDI Peaks and Dips as a New Era of Crypto Assets Is on the Rise
The introduction of BRC20 tokens, an innovative token standard on the Bitcoin blockchain, marked 2023 as a year of substantial growth in value for these assets. BRC20s leverage the Ordinals protocol to facilitate the creation and exchange of fungible tokens, akin to Ethereum’s ERC20, yet functioning under the unique conditions of Bitcoin’s Proof-of-Work (PoW) secured architecture.
BRC20 tokens harness the Ordinals protocol, embedding data into individual satoshis, Bitcoin’s smallest denomination. This encoding turns each satoshi into a distinct, fungible token within the Bitcoin network. ORDI, a leading BRC20 token, achieved an unprecedented hig
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