On December 26, 2023, the Bitcoin-based BRC20 token ORDI rose to an all-time high of $81.34 per coin before falling more than 14% from its peak. BRC20 has become a major player in the crypto asset space, with many tokens reflecting ORDI’s development.
Bitcoin’s BRC20 Token ORDI Highs and Drops as the New Era of Crypto Assets Is on the Rise
With the launch of the BRC20 token, a revolutionary token standard on the Bitcoin blockchain, 2023 marks the year of significant increases in the value of these assets. BRC20 uses the Ordinals protocol to facilitate the creation and exchange of alternative tokens, similar to Ethereum’s ERC20, but operates under the unique conditions of Bitcoin’s secure Proof-of-Work (PoW) architecture.
BRC20 tokens use the Ordinals protocol to place data in SATOSHI, Bitcoin’s smallest currency. This coding turns each Satoshi into a different fungible token within the Bitcoin network. ORDI, one of the main tokens of BRC20, reached an unprecedented high on Tuesday.
After reaching $81.34 and retreating from its all-time high, ORDI is currently trading between $68 and $72 per coin, with a market cap of approximately $1.46 billion. ORDI exploded 2,333% from its $2.86 value four months ago, despite falling more than 14% in one day. ORDI’s rise is in line with other BRC20 tokens that have experienced similar fluctuations.
DSPW, another BRC20 token, has 1.2 billion tokens in circulation and is traded at $1.66 each, representing a market cap of $1.99 billion. The SATS token has a circulation of 2,100,000,000,000,000, with each unit priced at $0.0008168 and valued at $1.71 billion. Meanwhile, the DOGE-themed BRC20 token is trading atDespite the ongoing debate over BRC20 tokens and Ordinal tokens taking up block space, the growing interest in these new digital collectibles and tokens underscores the strong demand for Bitcoin’s distributed ledger system. $0.001664 per coin, with 1 billion assets and a market cap of $1.66 billion.
Tracking data on ordinal-based BRC20s presents challenges due to the nascent nature of the ecosystem, leading to inconsistencies. However, this framework has seen significant advancements as BRC20 real-time data has become available on major coin collecting sites and a growing number of grassroots researchers and market aggregators.
