RATS, SATS and ORDI, the BRC-20 tokens yielding massive gains this cycle
- RATS, SATS and ORDI rank among BRC-20 tokens that yielded highest gains for holders in the past week.
- Binance announced the launch of 1000RATS Perpetual Contract and 1000SATS spot trading this week.
- SATS and ORDI yielded 229% and 10% weekly gains for holders on Binance.
The BRC-20 token standard was designed specifically for the Bitcoin blockchain and tokens like RATS, SATS and ORDI are BRC-20 tokens. One of the key reasons for BRC-20 popularity is that the token standard unlocks new capabilities for the Bitcoin blockchain when used in DeFi applications.
Among BRC-20 tokens, RATS, SATS and ORDI rank among the top performers in terms of gains for the token’s holders on a weekly timeframe. Binance’s listing announcement is likely one of the catalysts driving these gains in the BRC-20 tokens.
Also read: XRP analyst says massive price rally to $1.50 likely post Spot Bitcoin ETF approval, BTC halving
BRC-20 tokens with high weekly gains: RATS, SATS, ORDI
While meme coins like Shiba Inu and BONK are making headlines for their massive returns in the past week, BRC-20 tokens RATS, SATS and ORDI yielded profits for holders. These tokens belong to a controversial token standard that some Bitcoin developers consider a bug, since it causes excessive network congestion on most occasions.
According to data from aggregator BRC20 Station on X (formerly Twitter), RATS and SATS offered 610.6% and 329.9% weekly gains. While ORDI does not rank high up in the list in terms of returns, the BRC-20 token has a higher market capitalization and trade volume, relative to the other two. ORDI yielded 10% weekly gains for traders on Binance.
BRC20 is continuously growing, proving that a strong inflow of funds is entering the BRC20 ecosystem.
— BRC20 Station (@BRC20_Station) December 15, 2023
Right now, let's explore the BRC20 tokens with the strongest growth in the last 7 days #Ordinals #Bitcoin $rats $snht $sats $ordi $trac $btcs $meme $btoc $cncl $vmpx pic.twitter.com/A6ow8fWzT0
ORDI is key to the list because in the first week of December, Ordinals was the first BRC-20 token to breach $1 billion market capitalization and offer 850% monthly gains to holders, as on December 6. The top ranking BRC-20 token along with RATS and SATS has featured in several discussions on crypto X since Binance’s listing announcement for the latter two.
Binance announced the listing of 1000RATS Perpetual Contracts on its futures exchange and noted that the exchange will open spot trading for 1000SATS. Typically, a token’s listing on a large volume exchange like Binance or Coinbase has a bullish effect on its price. This has been termed as the “Binance effect” or “Coinbase effect.”
In the case of the two BRC-20 tokens, Binance effect pushed their prices higher and these assets have featured as cryptocurrencies offering massive gains in crypto portfolios. According to data from TradingView, 1000SATS currently exchanges hands for $0.0008086 on Binance while ORDI trades at $56.92.
In the past week, when crypto market participants engaged in derisking ahead of key macroeconomic events, meme coins and BRC-20 tokens shined most brightly, enjoying both capital inflow and ushering higher trade volume.
It remains to be seen whether gains in these assets are sustainable in the current crypto market cycle.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
