Chief Analyst Ryan Lee of Bitget Research Institute: BRC20 sector is experiencing a resurgence, which popular targets are worth paying attention to?

2023-11-09 16:48

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Source: Bitget

Recently, the BRC20 ecosystem has been very popular, not only with wealth effects, but also with continuous improvement and increasing support from top exchanges. For example, ORDI was launched on Binance, SATS was launched on Bitget, and BRC-20 Swap was launched on UniSat Wallet. Today, we will sort out the top 3 asset targets in the BRC-20 ecosystem that are currently receiving the most attention.

「ORDI」

The genesis token of BRC-20, ORDI, is undoubtedly the most well-known, highest traded, and most liquid asset in the ecosystem. Every major development and positive news in the BRC-20 ecosystem has pushed the price of ORDI higher. With ORDI being listed on Binance, its daily trading volume has reached over $600 million. In addition to the huge trading volume on CEXs, ORDI has also accumulated over 13k holding addresses on the BTC network.

「SATS」

Conceptually, "SATS" represents the smallest unit of Bitcoin, "satoshi", and is easily spread and associated with various developments and positive news within the Bitcoin ecosystem.

Regarding the consensus on funds, the biggest feature of sats is that "the total supply is 21 trillion, and the maximum casting amount is 100 million each time". In other words, it takes 21 million times of Minting to achieve 100% Mint Out. Roughly speaking, based on the gas level on the BTC chain, it would cost at least 10-20 million US dollars to achieve 100% Mint Out. The high cost made people originally skeptical that sats could be Minted Out, but after 6 months, sats were actually 100% Minted Out. This demonstrates its powerful consensus on funds. Currently, the number of addresses holding sats has exceeded 39k.

Asset empowerment, sats are favored by Unisat, and will be used as the handling fee for its new product BRC-20 Swap. This gives practical attributes to the BRC-20 token, which originally only had meme properties, and also brings a scenario of consumption deflation to sats, undoubtedly making users more optimistic about it. This direct empowerment in the BRC20 ecosystem is much more direct and effective than XEN founder Jack's BRC-20 token "VMPX", which needs to cross-chain to the Ethereum network to find empowerment opportunities.

（https://unisat.io/brc20）

「RATS」

"RATS" has been widely spread on social media because those who missed "SATS" are looking for the next potential target and promoting it. This logic is similar to those who missed the PEPE wealth effect and drove the surge of PEPE2.0.

Generally speaking, the market prefers to "speculate on new rather than old", so the BRC20 sector is also in the stage of market speculation that arouses users' curiosity. Therefore, although these three assets on BRC20 are very popular, the accompanying risks are also very high. When we invest, we need to evaluate our risk tolerance and operate with caution.