Exploring the Top 10 BRC20 Tokens: A Quick Overview
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BRC-20 tokens represent a novel class of fungible digital assets embedded within the Bitcoin blockchain. Distinguished by their unique inscriptions on Bitcoin’s satoshis through JSON code, these tokens stand apart from their conventional counterparts found on platforms like Ethereum. The BRC-20 standard introduces an innovative approach to leveraging Bitcoin, enabling the seamless creation and transfer of tokens within the Bitcoin ecosystem.
The following are the top 10 BRC20 tokens according to the CoinMarketCap ranking: ORDI, SATS, Multibit, LeverFi, OXBT, 1000SATS, rats, BRC20.com, Mice, MMSS.
ORDI (ORDI)
The ORDI market holds the highest position on the list, boasting a CoinMarketCap ranking of 57. A careful analysis of the chart reveals a pronounced bearish momentum, leading to a downward divergence in the lower standard deviation of the Bollinger Band. Nevertheless, there are discernible indications suggesting a potential price rebound, as bullish intervention is anticipated around the $50 support level.
Key Market Metrics
- Current Price: $99
- 24-Hour Trading Volume: $246,642,283
- Performance in the Last 24 Hours: 66% Gain
- Circulating Supply: 21,000,000 ORDI
- Market Capitalization: $1,112,895,494
- Total Supply: 21,000,000
SATS (1000SATS)
The SATS market secures the second position among the top BRC20 Tokens, holding the 69th position on the CoinMarketCap ranking. Despite maintaining a consistent range around the $0.00060 price level since January 6, the market has exhibited notable volatility. However, despite ongoing efforts by bulls, the price has not experienced a rally from the $0.0006 level; instead, selling pressure has prevailed, leading to a decline towards the $0.0004 price level. There is potential for a bullish intervention to unfold at this juncture.
Key Market Metrics
- Current Price: $0.00042
- 24-Hour Trading Volume: $58,151,059
- Performance in the Last 24 Hours: 15% Loss
- Circulating Supply: 2,100,000,000,000 1000SATS
- Market Capitalization: $893.48M
- Total Supply: 2,100,000,000,000 1000SATS
Multibit (MUBI)
Multibit holds the 284th position on CoinMarketCap. The market is showing signs of potential preparation for a rally, with the price action indicating a support level at $0.139. As the price approaches this level, the candlestick patterns suggest a notable decrease in momentum. To validate the likelihood of a price rally, the Relative Strength Index (RSI) is presently hovering around the 42 level.
Key Market Metrics
- Current Price: $0.1381
- 24-Hour Trading Volume: $12,162,753
- Performance in the Last 24 Hours: 22% Gain
- Circulating Supply: 950,000,000 MUBI
- Market Capitalization: $131,441,052
- Total Supply: 1,000,000,000 MUBI
LeverFi (LEVER)
Presently, the LeverFi market is consolidating around $0.001281, with the ongoing standoff or tug-of-war between demand and supply intensifying, indicating a potential breakout. This is notably observed as the Bollinger Bands converge to form a narrow price channel. However, the bears’ inability to sustain a bearish trend below $0.001281 and the bullish weakness in rallying the price upward suggest that the consolidation phase may persist.
Key Market Metrics
- Current Price: $0.001309
- 24-Hour Trading Volume: $4,269,725
- Performance in the Last 24 Hours: 72% Gain
- Circulating Supply: 28,875,422,744 LEVER
- Market Capitalization: $37,817,789
- Total Supply: 34 Billion
OXBT (Ordinals) (OXBT)
This market ranks fifth on the list. Upon reaching the $0.0238 price level, a substantial bullish response was initiated, forming a hammer candlestick—an indicative bullish signal. The market appears to be in a recovery phase, with the next potential target at $0.00243.
Key Market Metrics
- Current Price: $0.0240
- 24-Hour Trading Volume: $131,738
- Performance in the Last 24 Hours: 75% Gain
- Circulating Supply: 200,000,000 OXBT
- Market Capitalization: $4,773,147
- Total Supply: 200,000,000 OXBT
SATS (Ordinals) (SATS)
The SATS market is currently exhibiting bearish momentum, having broken out of a sideways price range around the $0.00000042 level. The SATS bull market tested the $0.0000009 level twice, the crypto signal is revealing a limitation in the ability of the bulls to drive the price beyond that point. The diminishing bullish strength is evident as successive price peaks decline, indicating the growth of bearish momentum and resulting in a notable bear market. Nevertheless, as the market approaches the $0.0000004 level, the waning bearish momentum suggests the potential for bullish intervention at this point.
Key Market Metrics
- Current Price: $0.00000042
- 24-Hour Trading Volume: $31,071,181
- Performance in the Last 24 Hours: 10% Loss
- Circulating Supply: 2,100,000,000,000,000 SATS
- Market Capitalization: $883,069,838
- Total Supply: 2,100,000,000,000 1000SATS
rats (Ordinals) (rats)
The market for rats has recently touched the $0.0002 support level but has faced resistance in breaking through this bullish position. The convergence of supply and demand forces at this level has impeded further upward movement in price action. This shift in the market suggests the potential for an imminent price rally. However, given the declining trade volume, the bullish momentum may encounter challenges in surpassing the $0.000376 resistance level, possibly forming a rectangular price pattern.
Key Market Metrics
- Current Price: $0.00023
- 24-Hour Trading Volume: $20,670,392
- Performance in the Last 24 Hours: 87% Gain
- Circulating Supply: 1,000,000,000,000
- Market Capitalization: $221,447,260
- Total Supply: 1,000,000,000,000
BRC20.COM (.COM)
In December of the previous month, this market concluded its initial bullish cycle, reaching a peak of approximately $7.201. The bear market originated from this high on December 19. Despite the considerable presence of bullish sentiment, the bear market exhibited sluggishness. However, with the market retracing back to the initiation point of the last bullish cycle, there is potential for a rally at this juncture. Supporting this anticipation, the candlesticks are displaying reduced volatility as they approach the crucial $1.56 price level, which serves as a key support.
Key Market Metrics
- Current Price: $1.827
- 24-Hour Trading Volume: $4,888,512
- Performance in the Last 24 Hours: 99% Loss
- Circulating Supply: 21,000,000 .COM
- Market Capitalization: $39,324,588
- Total Supply: 21,000,000 .COM
Mice (Ordinals) (MICE)
The market is poised for an upward rally as the price action exhibits a growing tendency to flatten near the critical support level of $0.01183, which corresponds to the opening price on December 18. On that day, significant buying activities propelled the market price to $0.12. Subsequently, the bear market was initiated, leading to the current position. With the waning bearish momentum, there is an expectation for bullish momentum to regain dominance.
Key Market Metrics
- Current Price: $0.0148
- 24-Hour Trading Volume: $4,864,657
- Performance in the Last 24 Hours: 53% Gain
- Circulating Supply: 1,000,000,000 MICE
- Market Capitalization: $14,889,304
- Total Supply: 1,000,000,000 MICE
MMSS (Ordinals) MMSS
The market landscape reveals a compelling struggle between downward pressures and upward momentum. Recent sessions depict a canvas of green price candles with a centrally positioned body, while the ongoing session showcases a dash-shaped body, indicating market dynamics that are indicative of strong indecision. Despite bears having the upper hand with price action below the Bollinger Bands’ midpoint, a silver lining emerges as the RSI lines climb slightly out of oversold territory, suggesting a potential surge in buyer momentum. Consequently, the market is delicately poised, presenting a balanced probability of upward and downward corrections, hovering around the $0.4626 resistance and $0.3430 support marks.
Key Market Metrics
- Current Price: $0.479
- 24-Hour Trading Volume: $4,437,500
- Performance In the Last 24 Hours: 45% Gain
- Circulating Supply: 21,000,000 MMSS
- Market Capitalization: $10,265,374
- Total Supply: 21,000,000 MMSS
