Despite some skepticism among the participants of the bitcoin community, the ordinals and BRC-20 tokens have strengthened their positions in the constantly changing cryptocurrency market.

Let's figure out which BRC-20 tokens can demonstrate exponential growth in 2024.

What is BRC-20?

BRC-20 is an experimental token standard on the Bitcoin (BTC) blockchain, which was created by an anonymous on-chain analyst, known in the crypto community as Domo, in March 2023. Its appearance is due to the interest of the crypto community in the Ordinals protocol, launched in early 2023, which allows embedding non-interchangeable tokens (NFT) in Satoshi.

The BRC-20 standard records satoshi using JSON (JavaScript Object Notation) data, which makes tokens suitable for deployment, mining and transfer.

The first issued BRC-20 token was called ORDI. In the following months, many other tokens of this standard were created, most of which were memcoins with no fundamental value. However, the ecosystem continues to evolve, and new coins are gaining more and more functionality.

According to Kaiko, the trading volume of BRC-20 tokens began to grow from November 2023, which indicates their unique position in the cryptocurrency market.

What to pay attention to

According to Lady of Crypto analyst, BRC-20 coins with their unique characteristics and evolving ecosystem can play an important role in the future market. She presented a list of BRC-20 tokens that are worth paying attention to:

SatoshiVM (SAVM): SAVM's L2 solution uses ZK rollups, eliminating the limitation of the Bitcoin network, which is the absence of smart contracts, and allows you to create complex decentralized financial applications.

Tap Protocol (TAP): TAP allows you to conduct advanced financial transactions directly on the Bitcoin blockchain, implementing features such as staking and liquidity pools.

BeFi Labs (BeFi): BeFi, compared to WOO or GMX, is gaining popularity. Its BeFi token offers a number of benefits such as revenue sharing, commission-free trading and early access to projects.

Multibit (MUBI): Multibit facilitates the smooth transition of BRC-20 projects to other second-tier solutions. Despite the significant growth already achieved, its important role in supporting infrastructure makes it a valuable asset in the BRC-20 ecosystem.

The BRC-20 token ecosystem represents a significant evolution in the cryptocurrency industry, offering investors a unique combination of security, innovation and potential profitability.