Despite the broader crypto-economy experiencing a downward trajectory, dropping 1.59% in the past 24 hours and hovering around $1.11 trillion, the BRC20 token economy has bucked this trend, expanding from $279 million to over $427 million within five days.

Impervious to Market Slump, BRC20 Tokens Defy the Odds

Built atop the Bitcoin blockchain, the recently established BRC20 token economy has seen significant growth in the past five days. As of Thursday, May 11, its total market valuation stands at $427 million, representing a 53% increase since May 7. Moreover, there are currently 14,450 BRC20 tokens in circulation – up from 13,530 four days prior – according to brc-20.io statistics.

Dune Analytics data compiled by user “cryptokoryo” reveals that the number of BRC20 transactions totaled 4,809,532 on May 12 at 10:15 a.m. (ET). Unquestionably, Bitcoin miners have relished the additional fees contributed to the network’s block subsidy in light of Ordinal inscriptions and BRC20 tokens’ arrival. Cryptokoryo’s BRC20 analytics indicate that since their inception, miners have accrued 987.34 BTC from BRC20 activities.

Although BRC20 tokens have resisted the wider crypto-economy’s decline, the BRC20 economy did plunge from the $525 million range to its present $427 mill

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Author: Jamie Redman

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