Original - Odaily
Author - Loopy Lu
Today, the trend of the crypto market has risen sharply again, Odaily released this morningBTC is approaching $38,000 again, is it the end of a bullish trend or the beginning of a bullish trend? 》Yiwenbao interpreted the market situation.
Among the dazzling performance of the market, the sudden advance of the BRC-20 sector has attracted the most attention from investors. The Bitcoin inscription market has ushered in a raging bull, and the total number of Bitcoin ordinal inscriptions minted has climbed to a new record.
Dune data shows that over the past day, the number of Bitcoin ordinal inscriptions minted in a single day surged to 505,000, a record high. As of now, the total number of inscriptions cast across the entire network has exceeded 40.83 million. In order to complete the casting of these inscriptions, approximately 2,564 BTC, equivalent to approximately US$96.14 million, have been consumed.
Not only are investors enthusiastic about the minting of inscriptions, but the market for BRC-20 is also extremely prosperous, with multiple BRC-20 tokens rising rapidly today.
Odaily has counted a number of BRC-20 tokens with large market capitalization, high popularity recently, and rapid rise. The details are as follows:
In the past week, many Inscription tokens have increased several times. For example, rats may be the most talked about BRC-20 token today. The recent high profits of this token have made the community hotly discuss that it may be the next meme. Some small market capitalization tokens are more likely to rise rapidly in a short period of time. For example, mfsq and jpeg have increased by more than three times in one day today.
The booming BRC-20 market has also triggered a surge in on-chain handling fees.
Ycharts data shows that the average Bitcoin fee surged to $15.86 earlier this week and is still close to the high range of $10.
In this round of BRC bull market, miners have undoubtedly become one of the biggest beneficiaries. At present, the halving is not far away from us. After the halving next year, the Bitcoin block reward will be reduced from 6.25 BTC to 3.125 BTC, and the rapid increase in handling fees will undoubtedly provide miners with a richer source of income.
As the leading token of the BRC-20 ecosystem, although ORDIs increase is not eye-catching (compared to other memes), this token has become a behemoth.
Ouyi OKX market shows that the price of ORDI once reached $27.8 today, setting a record high. The current market capitalization of ORDI is approximately US$530 million. Coingecko data shows that this market capitalization performance has entered the top 100 rankings in the crypto world and is currently the 96th largest token by market capitalization. For a new meme coin, this performance is quite impressive.
Today, in addition to the “traditional” Bitcoin Inscription market,Polygon inscriptionIt also caused a surge in gas on the chain.
Currently, the inscription market is taking off in an all-round way, and its value has already spilled over to more than just BTC chains. From the communitys perspective, we can interpret this as investors optimism about this emerging market. But if we interpret it from the perspective of carving a boat for a sword, is the memes flying in the sky a prelude to another flash crash? Odaily will stay tuned.
