Crypto, Politics, Tech, Gaming & World News.

BRC-20 Tokens Lose 40% Market Cap In 7 Days – Here’s Why | CPT PPP Coverage

 | cutline • press clip • news of the day |

Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE

200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |

View more Headlines & Breaking News here, as covered by

BRC-20 Tokens Lose 40% Market Cap In 7 Days – Here’s Why appeared on by Olowoporoku Adeniyi.

The crypto market has been looking to consolidate following a major price correction earlier in the week. One market that has felt the brunt of this correction is BRC-20 token which has suffered a major dip in its market cap. 

According to, which tracks the nascent market for tokens minted on the Bitcoin blockchain, the market cap of all BRC-20 tokens between May 8 and 11 went from $990,000,000 to $379,000,000, a 62% drop. At the time of writing, the market cap of BRC-20 tokens has rebounded and is around $570,000,000, making it a 40% dip within the seven-day trading period. 

Related Reading: Bakkt Streamlines Apex Crypto Platform By Removing 25 Tokens

The BRC-20 market is largely tied to the capitalization of ORDI token, which dominates more than 80% of the trading volumes. At the time of writing, it is currently trading around $15, down from its all-time high price of $28, achieved earlier in the month. The importance of ORDI in this market means that price variations directly and considerably affect the market cap of BRC-20 tokens. 


Ordi tokens dominate with more than 80% of the BRC-20 MarketCap: source

A Deep Dive Into BRC-20 Token 

BRC-20 is an experimental standard for issuing and transferring fungible tokens on the Bitcoin network. The deployment, issuance, and transfer of these tokens is done via a JSON data entry. Hence its relationship with the NFT Ordinals of Bitcoin. 

The creation of this standard is credited to a developer known as Domo on Twitter. On March 8, the computer scientist announced his progress in this area and acknowledged that it would be difficult for him to take this test further. For this reason, he preferred to share the project with others to experiment with. Since then, the ecosystem has exploded, with more than 14.000 tokens launched, according to

Although the name BRC-20 is a reference to Ethereum’s ERC-20 standard. However, both standards differ in several of their characteristics, especially due to the differences between the networks in which they work, Bitcoin and Ethereum.

First of all, Bitcoin’s BRC-20 tokens do not have the ability to interact with smart contracts, while ERC-20s do. Other limitations of the BRC-20 tokens compared to those of Ethereum is that they cannot have decimals, be burned or frozen, and have additional functions such as approval or delegation.

Related Reading: PayPal Plunging Despite Increasing Crypto Holdings

BRC-20 Tokens Not Without Controversy

Some Bitcoin maximalists have criticized the growing popularity of BRC-20 tokens due to their effect on the Bitcoin network. There has been growing congestion on the Bitcoin network, and it broke the record for the average number of transactions processed per block with an astonishing 4,373 transactions, marking an all-time high. Nevertheless, proponents of this token standard argue that it expands the Bitcoin blockchain to new possibilities and provides new use cases for the leading cryptocurrency. 

Bitcoin hovering close to the $27,000 mark
Bitcoin hovering close to the $27,000 mark: source @tradingview

-Featured Image from iStock, charts from and Tradingview

FEATURED ‘News of the Day’, as reported by public domain newswires.

Related Posts
Find more, like the above, right here on by following our extensive quiclick links appearing on images or [NEWSer CHEWSer].
View ALL Headlines & Breaking News here.

Source Information (if available)

This article originally appeared on by Olowoporoku Adeniyi – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.

We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.

CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.

We compile ‘news of the day’ content in an unbiased manner and contextually classify it to promote the growth of knowledge by sharing it just like BRC-20 Tokens Lose 40% Market Cap In 7 Days – Here’s Why

First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!

You might also like