List of BRC-20 Tokens You Must Know Before Buying!

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Bittime - Bitcoin, the world's first and largest crypto asset, has an exciting new feature: the BRC-20 token. Before we know the list of BRC-20 tokens, it's good to understand what BRC-20 tokens are.

The BRC-20 token is a digital asset created on the Bitcoin blockchain, using the Ordinals protocol that allows developers to create a variety of innovative decentralized applications (DApps).

This article will review a list of seven of the best BRC-20 tokens on the rise, along with their price movements, market cap value, and function within the broader blockchain ecosystem.

What is BRC-20 Token?

The BRC-20 token is a new token creation standard on the Bitcoin blockchain, proposed by an anonymous developer named Domo in March 2023. The BRC-20 token is inspired by ERC-20 tokens on the Ethereum blockchain, which allows developers to create tokens that are compatible with the Ethereum network and have sophisticated smart contracts. ERC-20 tokens have become the basis for many popular crypto projects, such as Tether, Chainlink, and Binance Coin.

The BRC-20 token uses the Ordinals protocol, which is one of the results of the Taproot update in Bitcoin in November 2021. The Ordinals protocol allows developers to insert additional data into Bitcoin transactions, such as serial numbers, text, or images. This data is called an "inscription" aka digital artifact, and can be used to assign a unique value to each BRC-20 token. For example, developers can create BRC-20 tokens with the inscription "I love Bitcoin" or the image of the Bitcoin logo.

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Seven Best BRC-20 Tokens

The BRC-20 token has great potential to develop the Bitcoin ecosystem with various innovative decentralized applications (DApps). Here are the seven best BRC-20 tokens worth paying attention to, based on data from CoinGecko as of February 26, 2024:

1. Ordinals (ORDI)

ORDI is the first and largest BRC-20 token, allowing users to own digital artwork, attractive profile photos, even interactive apps and games on the Bitcoin blockchain. ORDI launches in March 2023, and has since become the most popular digital art platform in Bitcoin, with over 14,000 tokens created. The price of ORDI is up 400% since the beginning of November 2023, from US$ 16.5 to US$ 65.8 per token. ORDI's market cap value stands at $1.38 billion, making it the largest BRC-20 token.

2. SATS (Ordinals)

SATS is a BRC-20 token that plays an important role in decentralized finance (DeFi) platforms on Bitcoin, which provides features such as yield farming, liquidity provision, and decentralized exchange (DEX). SATS launches in April 2023, and has since become the largest DeFi platform in Bitcoin, with over $500 million in value locked. The price of SATS has jumped 833% since the beginning of November 2023, from US$ 0.0078 to US$ 0.0648 per token. The market capitalization value of SATS stands at US$ 1.01 billion, making it the second largest BRC-20 token.

3. WOJAK

WOJAK is a BRC-20 token known as a meme token, which integrates with various decentralized applications (DApps) and DeFi platforms in Bitcoin. WOJAK launches in May 2023, and has since become the most popular meme token in Bitcoin, with over 10,000 tokens created. The price of WOJAK is not yet available due to low trading volume, but the market capitalization value of WOJAK stands at US$ 115 million, making it the third largest BRC-20 token.

4. B20 by ALEX (B20)

B20 adalah token BRC-20 yang merupakan bursa terdesentralisasi (DEX) yang dirancang khusus untuk memperdagangkan token BRC-20 dan token Bitcoin L1 lainnya. B20 diluncurkan pada Juni 2023, dan sejak itu telah menjadi bursa terdesentralisasi terbesar di Bitcoin, dengan lebih dari US$ 100 juta volume perdagangan harian. Harga B20 turun 12% sejak awal November 2023, dari US$ 0,3162 menjadi US$ 0,2779 per token. Nilai kapitalisasi pasar B20 mencapai US$ 5,8 juta, menjadikannya token BRC-20 terbesar keempat.

5. MEME (Ordinals)

MEME adalah token BRC-20 yang juga merupakan token meme, yang memanfaatkan ekosistem BRC-20 untuk menciptakan dan membagikan meme di blockchain Bitcoin. MEME diluncurkan pada Maret 2023, dan sejak itu telah menjadi token meme terbesar kedua di Bitcoin, dengan lebih dari 5.000 token yang dibuat. Harga MEME turun 6,4% sejak awal November 2023, dari US$ 30,9 menjadi US$ 28,96 per token. Nilai kapitalisasi pasar MEME mencapai US$ 2,9 juta, menjadikannya token BRC-20 terbesar kelima.

6. Pepe (Ordinals) (PEPE)

PEPE is a BRC-20 token which is also a meme token, which is based on the "green frog" meme popular on the internet. PEPE launches in July 2023, and has since become the third largest meme token in Bitcoin, with over 4,000 tokens created. The price of PEPE is up 18.9% since the beginning of November 2023, from US$ 0.0879 to US$ 0.1044 per token. PEPE's market cap value stands at US$ 4.4 million, making it the sixth largest BRC-20 token.

7. Pizza (Ordinals) (PIZA)

PIZA is a BRC-20 token that is also a meme token, inspired by "Bitcoin Pizza Day", which is the day when someone bought two pizzas with 10,000 Bitcoins in 2010. PIZA launches in August 2023, and has since become the fourth-largest meme token in Bitcoin, with over 3,000 tokens created. The price of PIZA is up 400% since the beginning of November 2023, from US$ 0.0456 to US$ 0.228 per token. PIZA's market capitalization value stands at $4.8 million, making it the seventh-largest BRC-20 token.

Conclusion

The BRC20 token is an experimental token standard that uses ordinal inscriptions to enable the creation and transfer of tokens on the Bitcoin blockchain. The BRC20 token is similar to the ERC-20 token standard on Ethereum and the EVM blockchain network.

BRC20 tokens use JavaScript Object Notation (JSON) to deploy token contracts and mint and transfer tokens. The BRC20 token is an experiment in the compatibility of the Bitcoin network with the token standard, creating for the first time the ability to create and transfer digital assets on top of the Bitcoin network.

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How to Buy Bitcoin (BTC) on Bittime

You can buy and sell Bitcoin (BTC) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

Bitcoin (BTC) is available on Bittime with the BTC/IDR market pair. To be able to buy BTC IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.

Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.

Monitor the price chart movements of Bitcoinn (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

What Is MultiBit (MUBI): Bitcoin &; Ethereum Connecting Bridge

What are Rats (Ordinals)? How It Works, Usability, and Tokenomics

BRC-20 Token: Definition, Advantages, and Disadvantages

SATS (Ordinals): What Is It and How Does It Work?

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.