Strong Surge in BRC-20 Tokens Following Binance NFT’s Announcement of Bitcoin Ordinals Support
In a recent announcement, Binance revealed that it would be supporting Bitcoin Ordinals (Bitcoin NFT) transactions on its NFT Marketplace platform at the end of May.
Since then, several tokens on the Bitcoin network have experienced significant growth, including Ordinals (ORDI), which rose by nearly 50%, Bank (BANK) which increased by nearly 24%, and Piza (PIZA) which climbed by over 20%.
With Binance’s announcement, users will be able to buy and sell Bitcoin NFTs directly on the exchange without the need for a separate Bitcoin wallet. Previously, Binance’s NFT Marketplace platform integrated with other networks such as BNB Chain, Ethereum, and Polygon.
“Bitcoin is the OG of cryptocurrencies, and we are thrilled to announce the support of Bitcoin Ordinals on our Binance NFT Marketplace platform,” said Mayur Kamat, Head of Product at Binance.
Prior to Binance’s announcement, another exchange, OKX, also revealed that it would be bringing Bitcoin orders to its marketplace and wallet ecosystem.
Aside from the frenzy surrounding Bitcoin Ordinals, the cryptocurrency market has also witnessed a surge in BRC-20 tokens in recent days. According to data from OrdSpace, over 11,750 tokens have been issued on the Bitcoin network, with a total market capitalization of nearly $700 million for BRC-20 tokens.
This news highlights the continued growth and adoption of cryptocurrencies, particularly in the NFT market. With major exchanges like Binance and OKX supporting Bitcoin transactions and bringing them to their respective marketplaces, it’s clear that the crypto industry is continuing to expand and evolve rapidly. Investors and traders alike will no doubt be keeping a close eye on the developments in this space in the coming weeks and months.
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