Chain News Daily Official TheBitTimes.com

Trade volume for BRC-20 tokens increased $10-15 million to more than $500 million since November 2023, as per data from Kaiko. Tokens minted on the Bitcoin blockchain are gaining momentum as their trading volumes increased by ten times since the end of 2023, according to Kaiko data. In a report on Jan. 15, the Paris-based analytics blockchain firm revealed that trading volumes for BRC-20 tokens skyrocketed from $10 million in November 2023 to more than $500 million in January, attributing the increase to Binance, which recently launched spot and perpetual futures trading for ORDI, SATS, and RATS. Trading volume for BRC-20 on crypto exchanges | Source: Kaiko You might also like: Bitcoin Ordinals dominate majority of BTC transactions Binance, initially dominating the trade volume market share at 63% as trading volumes surged to $2 billion following the listing of SATS and RATS, has since experienced a decline and currently has around 50% of the market share, data sh...

The average commission on the Bitcoin (BTC) network exceeded $37, reaching a yearly high. The increase in blockchain fees was caused by another wave of activity in the Ordinals segment. This has led to increased demand for block space. Source: Bitinfocharts A similar situation happened in April-May 2023. At that time, after the popularization of inscriptions — notes that can be inscribed onto the Ordinals blockchain — the average commission reached $19. Then, the demand for Bitcoin NFTs fell, but grew again in Q3 2023. Commission increases occurred due to the high demand for inscriptions on the Ordinals network. The number of these tokens and the volume of commissions show a steady upward trend. Source: Dune The beneficiaries were miners whose income jumped to the levels of Bitcoin quotes at historical highs of around $69,000. 6.25 btc fees, 6.25 btc subsidy in this block. i guess we don't need to worry about mining incentive in the future after all. https://t.co/...

The Binance NFT marketplace announced that users will soon be able to trade and purchase Bitcoin NFTs on its platform using already-existing wallets. Bitcoin ordinals  — also known as Bitcoin NFTs — have made their way into the limelight of the Web3 space, as more marketplaces continue to adopt and offer digital assets.  On May 9, the cryptocurrency exchange Binance announced that it will support Bitcoin ordinals on its NFT marketplace in late May. The development will expand Binance’s multichain NFT ecosystem to include the Bitcoin network. Previously the Binance NFT market integrated with other decentralized networks, including BNB Chain, Ethereum and Polygon. Mayur Kamat, the head of product at Binance, commented on broadening the offerings in the marketplace and Bitcoin’s (BTC) crypto legacy: “Bitcoin is the OG of crypto.” The update allows Binance users to purchase and trade Bitcoin ordinals from existing Binance accounts. According to the announcement, the update will also in...