Binance Publishes Research Report on BRC-20 Tokens with Over 24,000 Minted
Bitcoin and BRC-20 tokens have gained significant attention in the crypto space. Binance, a popular cryptocurrency exchange, is actively exploring the integration of BRC-20 tokens to enhance Bitcoin’s NFT era.
Leonidas, a well-known member of the Crypto Twitter community, drew attention to Binance’s interest and support for Bitcoin-powered innovations, capturing the community’s interest.
Timeline of @binance's involvement with Ordinals/BRC-20
March 1st: Binance's first tweet mentioning Ordinals
April 12th: CZ mentions that he is very excited about "NFTs in Bitcoin" at a Web3 conference in Hong Kong.
May 9th: Binance announces that its NFT marketplace will…
— Leonidas (@LeonidasNFT) May 28, 2023
According to reports, Binance took significant steps in March 2023 to embrace Bitcoin Ordinals and BRC-20 tokens. Firstly, the crypto exchange announced its support for Bitcoin Ordinals on the Binance NFT marketplace on May 9. Secondly, it conducted a detailed analysis and published a research paper on BRC-20. Lastly, Binance’s crypto data aggregator, CoinMarketCap, integrated support for BRC-20 tokens.
In addition, Binance CEO Changpeng Zhao (CZ) has expressed his anticipation for these Bitcoin innovations, which has further fueled the crypto community’s belief in potential BRC-20 token listings on the platform.
Also Read This :Â BRC-20 Tokens Explained Briefly
Currently, there have been 24,677 BRC-20 tokens minted, with ORDI being the dominant token. Moreover, the Ordinals NFT collections are gaining popularity and are competing with top Ethereum and Solana NFTs.
Notably, well-known figures like Peter Schiff have even joined the realm by launching new Ordinals NFTs, which has surprised many in the industry.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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