BRC-20 Tokens in the Spotlight: Exchanges Take Action
Bitcoin Ordinals and BRC-20 tokens continue to take the cryptocurrency market by storm. Crypto exchanges have also taken action to take their place in this storm.
Bitcoin Ordinals and BRC-20 tokens which enable the creation of NFT on the Bitcoin blockchain continue to be adopted by a lot of marketplaces and crypto companies. These recently released Ordinals and BRC-20 tokens continue to take the crypto market by storm.
These digital assets which have reached almost congestion in the Bitcoin network and the power to raise transaction fees to record levels that brought a new breath to the market. However, Ordinals and BRC-20 tokens are which started a brand new craze have taken action to integrate them into their platforms.
Stock Markets Keep Up With New Trends
The leading Binance exchange in terms of trading volume announced that last week that it will support Bitcoin Ordinals. However, Binance’s NFT marketplace will also allow exchange users to buy and trade Bitcoin Ordinals from their existing exchange accounts.
Also Binance was not the only exchange to integrate these assets into its platform. The OKX exchange also took advantage of these assets which have beat the crap out of the crypto market in recent weeks. OKX has announced that it will introduce new features which will allow customers to print and exchange Bitcoin Ordinals and BRC-20 tokens by using their exchange wallets.
As it is known the intense interest shown in BRC-20 tokens, the increase in these activities in blockchains and the Bitcoin transaction fees have been recently increased. In fact more than $35 million in transaction fees were charged according to data from Dune Analytics.
The surprising events in the crypto market did not stop there. The buzz initiated by the BRC-20 tokens was taken so seriously that the market value of these tokens jumped to $1 billion in the past few weeks.
On the other hand, OKX, which wants to take its place in the frenzy started by Bitcoin NFT and BRC-20 tokens, has announced that it will not make all its new features available immediately. Announcing that BRC-20 token trading services will be launched this week or next, OKX clarified that NFTs with Ordinal text and BRC-20 tokens can only be printed at the end of this month.However, crypto exchanges were not the only ones adopting the next generation of digital assets. Bitcoin NFTs can also be traded on major NFT marketplaces such as Magic Eden.