BRC-20 tokens are experiencing significant traction in the market, particularly ORDI, SATS and MUBI, showcasing remarkable gains for token holders over the past week. The surge in these BRC-20 tokens’ value follows Bitget’s recent listing announcement, contributing to their upward trajectory.
Ordinals (ORDI)
The token connected with Bitcoin, specifically the BRC-20 token ORDI, has witnessed remarkable growth, soaring by over 500% in a mere month.
Ordinals (ORDI) made history as the first BRC-20 token developed through the Ordinals Protocol. Since its exchange debut in May 2023, the project has garnered substantial attention, surging to a market cap surpassing $1 billion. Analysts attribute ORDI’s early listing success to its exposure to a broad investor base.
Following the listings, ORDI’s value surged by over 1,000%, showcasing a demand surpassing expectations for tokenization and Ordinals Protocol-based applications. In November, ORDI saw an additional 670% price hike. Currently traded at $51, ORDI boasts a daily trading volume surpassing $421 million.
Trading activity for ORDI on Bitget is skyrocketing, fueled by bullish Bitcoin sentiment. Bitget’s recent reported indicates that 61% of new users have exclusively purchased BTC in December.
MultiBit (MUBI)
Freshly listed on Bitget, MultiBit (MUBI) is a dual-sided bridge, crafted to facilitate cross-network transfers between BRC20 and ERC20 tokens, enhancing liquidity and cross-chain interoperability. Users start by transferring BRC20 tokens to a dedicated BRC20 address. From there, these tokens are ready for minting on the EVM network. MultiBit’s innovation shines through its dual-sided bridge feature, making it easy to transfer tokens between EVM networks and the Bitcoin ecosystem.
Currently traded at $0.23 and having a 24-hour trading volume of $72 million, MUBI’s price vividly reacts to new users’ demand. Within a day of being listed on Bitget’s Innovation Zone on December 13, Multibit has significantly increased by 50.40%. Its current market capitalization is $227 million, ranked 242 on CoinMarketCap.
Traders can benefit from additional rewards by participating in a MUBI promotion until December 20. Users, who deposit at least $50 worth of MUBI can get a 10% rebate from a prize pool of $4,000 worth of MUBI (the final net deposit volume will be used to calculate the rebate). Each user can get up to $50 worth of MUBI. More information can be found here.
Ordinals (SATS)
Bitget was one of the first exchanges to list Ordinals (SATS) over a month ago in early November giving its users a huge head start in comparison to other exchanges like Binance (December 12) and Huobi (November 17). The value of SATS has increased significantly since the Binance listing announcement with a 138.03% daily increase, which led over 90% of early SATS holders on Bitget to make a profit.
SATS is currently traded at $0.0007639 with a 24-hour volume of $273 million. The price of SATS has increased by 28.53% over the past day.
One of the well-known BRC-20 tokens, this meme coin is centred around Satoshi, the smallest unit of Bitcoin and sees price increases in tandem with the network. On December 14, SATS reached an all-time high of $0.00000064, which was the highest price ever recorded. Its lowest price is not accessible, although it has seen a cycle low of $0.00000058 since its all-time high. $0.00000064 was the highest price since the last cycle low.
A bullish attitude is currently being expressed regarding the SATS price projection, and the Fear & Greed Index is showing a value of 72, suggesting a Greed condition.
The role of BITGET’s Innovation Zone in the BRC-style and other new Tokens Development
All of these BRC20 coins are listed in Bitget’s Innovation Zone, which means they are subject to higher requirements and constant monitoring.
The Bitget Innovation Zone aims to offer a secure environment for Bitget users to trade cutting-edge projects. Currently, the most common way of trading these new and innovative tokens is through decentralized exchanges or directly from a self-managed wallet. However, this method demands a high level of technical proficiency and knowledge. For example, if you forget your password or seed phrases, you could permanently lose access to your funds.
Bitget Innovation Zone was designed for the trading of new token offerings, making it possible for users to do so directly from their Bitget account with ease and comfort. As such, it protects these less-suited users to ensure that they are not exposed to any potential danger.
Being a home for more than 550 cryptocurrencies and over 650 trading pairs, Bitget is known for its innovative opportunities for early traders. The platform’s native token BGB has demonstrated the best market performance in the exchange tokens category. Over the past week, BGB has grown by 24% and is currently traded at $0.6 — its all-time high value. This surge can be attributed to the rapid increase in trading volume and user onboarding experienced by the exchange amidst the surge in Bitcoin and BRC20 tokens. As more users actively trade these tokens on the exchange, the demand for BGT also rises, driving its price to reach new record levels.
