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Bitcoin halving in sight, BRC-20 tokens rally

  • BRC-20 tokens have seen spikes in their prices on Thursday as Bitcoin price climbs above $70,000. 
  • The market capitalization of BRC-20 tokens is $3.51 billion, up nearly 9% on April 11.
  • ORDI, SATS, PUPS, MUBI and ORDS prices rallied between 3% and 32% in the past day.

A BRC-20 token is an experimental fungible token standard similar to ERC-20 (native to the Ethereum blockchain). BRC-20 token standard is considered novel and uses ordinal inscriptions on the Bitcoin blockchain. 

In the past day, the market capitalization of BRC-20 tokens has climbed to $3.516 billion, as of April 11. The tokens have noted a spike of nearly 9% in their market cap on Thursday. 

BRC-20 tokens that see prices spike alongside Bitcoin price rally

Bitcoin price climbed to a high of $71,300 on Thursday, posting nearly 7.22% gains in the past week. The top 5 BRC-20 tokens by market capitalization are ORDI (ORDI), SATS Ordinals (SATS), PUPS Ordinals (PUPS), Multibit (MUBI), Ordiswap (ORDS). 

Data from CoinGecko shows that BRC-20 token prices climbed between 3% and 32% on Thursday. While ORDI, SATS and ORDS prices climbed 7%, 3.1% and 6.9% respectively, PUPS and MUBI prices increased 32.1% and 13.4% on April 11. 


BRC-20 token prices

A crypto analyst behind the X handle @arndxt_xo says that BRC-20 is the leading narrative in 2024, and with Bitcoin halving less than two weeks away, whales are heavily accumulating these BTC ecosystem tokens. 

Typically, Bitcoin price rally catalyzes gains in ecosystem tokens as well. Traders can expect BRC-20 tokens to rally alongside BTC pre-halving if the trend from previous halvings repeats itself. 

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