Why do Twitter KOLs make money in BRC, but I lose money as soon as I rush?
The recent market heat is worrying, but are there really so many people making money on BRC-20?
Looking at Twitter, many KOLs claimed to have made a fortune in BRC-20 and shared their experiences. At present, the unit price of ORDI, which has led the rise, has exceeded 27 US dollars.
Accompanied by the wealth effect, there are countless BRC altcoins and Meme coins.
UniSat data show that,At present, the total number of BRC currencies has reached an astonishing 14,690.And the vast majority of them are currencies that are not yet in circulation.
Although the market can easily make people feel anxious that "gold is everywhere, but I can't pick it up", the fact is that there are not as many people who make money on BRC as imagined.
According to ordspace data, the total market value of BRC-20 has reached 1,023,516,333 (approximately 1 billion) US dollars. Today, more than 150 tokens have been traded.
In view of the BRC-20 "NFT-like" pending order transaction mode, except for a few top projects, most tokens are very scarce in liquidity. From the perspective of trading volume, ordspace data shows that only ORDI, VMPX, NALS, and DRAC are the only BRC-20 with a 24-hour trading volume exceeding one million US dollars.
Where does million dollar volume sit in the overall crypto market? That figure sits at number 97 in today's market, according to Coingecko data. This compares to $15.7 billion in BTC and $9.8 billion in ETH.
This data is not outstanding,It is difficult to accommodate excessive funds and a large number of users.secondary title
BRC 10,000 coins issued at the same time, one person will issue 5 coins in a row
In this round of BRC frenzy, various counterfeit versions are flying all over the sky, and various project communities are competing to issue coins quickly. This is the most surprising sight.
Jack Levin, the founder of XEN alone, has led (or indirectly participated in) five new coins including PUSY, XUNI, EPIC, DRAC, and VMPX.
Odaily has explained in detail the continuation of the XEN project created by Jack"whole life". With previous experience and enthusiasm, it is naturally favored by investors in the BRC market. Currently, its latest project VMPX is about to be listed on Gate.
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And DRAC is perhaps the most dramatic of them all.
According to the official information of the project released by Jack Levin, a large number of investors speculated that the name of the new currency to be released is DRAC through puzzle games, and they all wanted to engrave this currency.
And after the countdown ends,Jack announced a new currency that has nothing to do with puzzle games-VMPX.text
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Just relying on the shared name can be popular for a while,This naming method, which can be called an encryption "innovation",secondary title
Fake currency issuance is rampant, and investors suffer heavy losses
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(Community users complaining about KOL)
The boom in memes is not only happening on BRC, but also on ERC before this round of BRC mania. AIDOGE, PEPE, MEME... One after another, the myth of getting rich is constantly stimulating investors in the encrypted world.
Just like every previous round of copycat seasons, a large number of scams of "running away" and RUG are constantly happening along with the soaring price of copycats.
For example, a certain KOL who wanted to commit suicide due to liquidated losses before changed his Twitter name and released Moyu Meme Token, and once this token was launched, RUG was activated within a few hours.
In this Meme season, a meme coin called TURBO also skyrocketed for a short time. This token uses ChatGPT as a marketing selling point, and its planning, operation, and contracts are all completed by ChatGPT under human instructions. Due to the skyrocketing popularity of this meme, KOLs in the Chinese-speaking world have also launched a similar AI-concept meme coin imitation ZPC.
Regrettably, this token faced failure in less than two days. The founder smashed and sold it, and the currency price fell rapidly. A large number of investors who participated in the joint fundraising obtained considerable losses.
The meme coin Her with the theme of SBF's girlfriend is also popular for a while, the meme coin FOUR operated by the BAYC community, and the Cantonese homophonic coin POGAI...
A more typical case is the popular "Xitancoin" scam a few days ago, which was promoted by many well-known KOLs.
In every meme craze, there is always a race to the bottom with fake and scam projects. When investing in meme hype, memecoin is a risky cryptocurrency, and its purely hype nature makes its future even more unpredictable.
The meme suddenly rises, is the market close to collapse?
History has told us more than once that the popularity of memes is often a forecast of an impending market crash.
In May 2021, DOGE rose to its highest point in history, as high as $0.74 per coin. The community unanimously called out the target price of Dogecoin breaking through $1. But we all know what happened next - the market quickly turned into a cold winter, and the current price of DOGE is only about US$0.074, which is only one-tenth of that at that time.
History does not always repeat, but at least there is a certain "rhyme". Whether it is the BRC mania, or the carnival of ERC altcoins, or KOLs issue coins in batches. These behaviors that cause FOMO and fraud do not constitute a healthy and virtuous market.
More importantly, given the unique narrative and community culture of meme coins, most of them can only be short-lived.
BRC-20 Due to the convenience of issuing coins and the uniqueness of the token name, issuing coins has become an extremely simple and low-cost matter.
If 4 is all letters, there are about 450,000 potential combinations. Using combinations of letters and numbers, there are 1.68 million potential combinations. In this vast permutation and combination, it is hard to imagine how many meme names that still have room for speculation.
Although the market sentiment is high, many community users believe that the short-term market crash is not far away. After all, the last stop of the previous rounds of bull markets was a "meme carnival". mirage. Once again, investors are reminded to avoid blind FOMO, DYOR.
