BRC-20 Inscription Growth Key for Bitcoin’s Continued Dominance in 2023 – Binance Research
The cryptocurrency market witnessed a remarkable recovery in 2023 with a staggering 109% year-over-year (YoY) surge. However, what captured the attention of the Binance Research team was the notable growth of the BRC-20 token standard throughout the year.
In their 140-page report, the research arm of the world’s largest crypto exchange revealed that Ordinals, Inscriptions, and BRC-20 token standards played a pivotal role in the resurgence of the foremost blockchain network.
According to the report, these three-tiered systems, which introduced more functionality to the largely rigid decentralized value exchange protocol, led to the creation of a “new era for Bitcoin” in 2023.
#Binance Research is delighted to announce the release of our comprehensive industry year-in-review report.
We uncover the top crypto industry dynamics of 2023 and discuss key trends as we head further into 2024.
Check it out
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