Inscription tokens continue to rise, and the wealth creation effect continues?
As the Federal Reserve clearly released a signal to cut interest rates, the entire capital market began to have a carnival, and the encryption market was no exception. Bitcoin regained its yearly high of $43,000. The recently popular inscription token market continues to be hot. RATS, SATS, MUBI, TURT, ALEX, etc. have all seen increases to varying degrees, with an average increase of more than 40%.
Bull market catalyst, BRC-20 has obvious wealth effect
The prosperity of the BRC-20 ecology has become the catalyst for this round of bull market. The reason is that the birth of BRC-20 provides investors with a new investment tool. Due to its unique mechanism and potential profit potential, it attracts a large number of investors. This wealth effect is not limited to individual investors. For the market as a whole, the launch of BRC-20 has also brought about a significant increase in activity and trading volume. Markets that may have been inactive before have become active due to the emergence of BRC-20, and transaction volumes have increased significantly. For example, as trading platforms such as OKX and Bitget launched BRC-20, their trading volume increased rapidly, attracting more investors and traders. According to the latest data released by Bitget, trading volume in its spot market increased by 82%.
Bitget, the touchstone on the BRC-20 track
In this wealth feast about inscriptions, early entrants such as Bitget and OKX are undoubtedly one of the biggest winners. With the listing of multiple BRC-20 tokens, a significant wealth effect has been formed. Taking Bitget as an example, the recently launched MUBI and TURT have brought huge wealth creation effects.
MultiBit is the first two-way cross-chain bridge designed to facilitate cross-network transfers between BRC 20 and ERC 20 tokens. After MUBI was listed on Bitget, the opening price was 0.07 US dollars, reaching a maximum of 0.16 US dollars, and the current price is 0.1444 US dollars, an increase of more than 106%; and another project worthy of attention is Turtsat. Turtsat is an open platform driven by the community, and its mission is to become Ordinal. Gitcoin, through Turtsat, provides a space for everyone to build, donate and influence Bitcoin Ordinal BRC-20. Similarly, after being listed on Bitget, the price of TURT skyrocketed. The opening price of TURT on Bitget was 0.01 US dollars, reaching a maximum of 0.0449 US dollars, and the current price is 0.0387 US dollars, an increase of more than 287%.
Entering the game early, Bitget explores multiple potential projects
As early as April this year, Bitget began to lay out the BRC-20 track and launched a number of early popular BRC 20 ecological projects, such as PEPE, ORDI, BIP 1, etc. As for ORDI, the leader of the Inscription track, Bitget first launched it on May 10 this year. The initial price was only US$1. With ORDI listed on Binance, its price has increased by 5500%. Similarly, SATS, which has recently aroused heated discussion and attention in the community, was launched on Bitget on November 9. More than a month later, as Binance listed SATS, the price of SATS increased by 769%. In order to make it easier for users to trade more popular BRC-20 tokens, Bitget has also launched a trading area for BRC-20 tokens, which currently supports multiple popular BRC-20 tokens.
summary
In short, with the prosperity of the BRC-20 ecosystem, the encryption market has ushered in a bull market. Investors are flooding into the market chasing new investment opportunities. Early entrants such as Bitget have become one of the biggest winners, providing investors with more trading options and opportunities by listing multiple popular BRC-20 tokens. However, we also need to note that there are still risks and uncertainties in the encryption market. Investors need to remain rational, invest prudently, and avoid blindly following the trend.
