• Bitcoin’s BRC20 token market capitalization has grown by 192% in four days, reaching $279 million.
• The top five BRC20 tokens (ordi, pepe, piza, meme and moon) account for 86.55% of the total market valuation.
• Bitcoin miners have earned 214 bitcoin (BTC), which is equivalent to $6.2 million from the BRC20 ecosystem.
Bitcoin’s BRC20 Token Economy Skyrockets 192%
The BRC20 token standard that is built on top of the Bitcoin network is quickly gaining momentum and its token economy is flourishing. In just four days, the market capitalization of all the BRC20 tokens built on top of the Bitcoin network skyrocketed 192%, increasing from $95 million to an impressive $279 million.
Top Five Tokens Account for 86.55% Market Valuation
More than 13,000 BRC20 tokens are now worth a combined total of $279 million with ordi being the most valuable coin at a single token price of $9.46 and a market valuation of around $200 million – dominating over 71% of the entire market capilalization. Pepe is another highly valued token with a market capitalization close to 17.6 million while the top five tokens (ordi, pepe, piza, meme and moon) account for 86.55%.
Bitcoin Miners Earn Over 6 Million USD From BRC20 Ecosystem
The 24-hour trade volume generated by ordi alone reached 3.11 million in transactions with data from Dune Analytics recording more than 3 million transactions within this time frame overall in regards to all BRC20 coins combined – indicating strong growth across the board for these projects as well as significant earnings potential for Bitcoin miners who have earned 214 bitcoin (BTC) or over 6 Million USD from this booming ecosystem so far this year alone!
Supply Caps Implemented By Token Creators
Token creators have implemented various supply caps according to data found on brc-20 io – out of 118 top ranked tokens based on their respective market valuations 80 opted for max supplies set at 21 million each which indicates that there could be further scarcity pushing prices up even higher in coming months if demand continues along its current trajectory!
Conclusion
It appears that Bitcoin’s BRC20 token economy is having an incredibly successful start so far this year with it skyrocketing an astonishing 192% in only four days and having miners earn over 6 Million USD from it so far – showing great potential ahead as more developers continue to join forces with this project!