The inscription tokens continue to rise, and the wealth effect is still ongoing?
As the Federal Reserve clearly signaled a rate cut, the entire capital market began to celebrate, and the crypto market was no exception, with Bitcoin rising back to the year's high of $43,000. Meanwhile, the recently popular inscription token market continues to thrive. RATS, SATS, MUBI, TURT, ALEX, and others have all seen varying degrees of increase, with an average rise of over 40%.Author: MartinTalk
Bull Market Catalyst, BRC-20 Wealth Effect is Obvious
The prosperity of the BRC-20 ecosystem has become a catalyst for this round of small bull market. The reason lies in the fact that the birth of BRC-20 provides investors with a new investment tool. Due to its unique mechanism and potential profit potential, it has attracted a large number of investors. This wealth effect is not limited to individual investors. For the entire market, the launch of BRC-20 has also brought significant activity and an increase in trading volume. Markets that may have been inactive have become active due to the emergence of BRC-20, with trading volumes increasing significantly. For example, with trading platforms like OKX and Bitget launching BRC-20, trading volumes have surged, attracting more investors and traders. According to the latest data released by Bitget, the trading volume in its spot market has increased by 82%.
Bitget, the Touchstone of the BRC-20 Track
In this wealth feast regarding inscriptions, early entrants like Bitget and OKX are undoubtedly among the biggest winners. With the launch of multiple BRC-20 tokens, a significant wealth effect has already formed. Taking Bitget as an example, the recently launched MUBI and TURT have brought about tremendous wealth creation effects.
MultiBit is the first bi-directional cross-chain bridge designed to facilitate cross-network transfers between BRC20 and ERC20 tokens. After MUBI was launched on Bitget, its opening price was $0.07, reaching a high of $0.16, and the current price is $0.1444, with an increase of over 106%; another noteworthy project is Turtsat, which is a community-driven open platform with the mission of becoming the Gitcoin of Ordinals, providing everyone with a space to build, donate, and influence Bitcoin Ordinals & BRC-20. Similarly, after being launched on Bitget, the price of TURT experienced a surge. The opening price of TURT on Bitget was $0.01, reaching a high of $0.0449, and the current price is $0.0387, with an increase of over 287%.
Early Entry, Bitget Explores Multiple Potential Projects
As early as April this year, Bitget began to lay out the BRC-20 track and successively launched several early popular BRC20 ecosystem projects, such as PEPE, ORDI, BIP1, etc. For the leader of the inscription track, ORDI, Bitget launched it on May 10 this year, with an initial price of only $1, and as ORDI was launched on Binance, its price has increased by 5500%. Similarly, the recently discussed and focused SATS was launched on Bitget on November 9, and a month later, with Binance launching SATS, the price of SATS increased by 769%. To facilitate users in trading more popular BRC-20 tokens more easily, Bitget has also launched a trading area for BRC-20 tokens, currently supporting multiple popular BRC-20 tokens.
Summary
In summary, with the prosperity of the BRC-20 ecosystem, the crypto market has ushered in a bull market frenzy. Investors are flocking to the market in pursuit of new investment opportunities. Early entrants like Bitget have become one of the biggest winners by launching multiple popular BRC-20 tokens, providing investors with more trading choices and opportunities. However, we also need to be aware that the crypto market still carries risks and uncertainties, and investors should remain rational, invest cautiously, and avoid blindly following trends.
