Bitcoin BRC-20 token standard becomes a new destination for meme tokens

A total of 8,500 different tokens have been minted utilizing the BRC-20 standard, with the bulk of these BRC-20 tokens being memecoins, such as PEPE and Memetic (MEME). The market cap of BRC-20 tokens has blown up over the previous month and currently sits at $120 million, a 600% rise in the previous week.BRC-20 tokens marketcap. Source: DuneAlong with the increase in BRC-20 transactions, transaction fees have actually surged due to the new token activity.

An overall of 8,500 different tokens have been minted utilizing the BRC-20 standard, with the majority of these BRC-20 tokens being memecoins, such as PEPE and Memetic (MEME). The market cap of BRC-20 tokens has actually blown up over the past month and currently sits at $120 million, a 600% increase in the previous week.BRC-20 tokens marketcap. Source: DuneAlong with the increase in BRC-20 deals, transaction costs have surged due to the brand-new token activity.