Loading
Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.
Check out the following projects, you may not know, are actually being built on top of Bitcoin.
Runes-related transactions could extend a significant revenue boost for Bitcoin miners after the 2024 halving.
The BitMEX co-founder says the current phase of price consolidation is ideal for accumulating crypto before macroeconomic factors trigger the next leg up in the bull market.
pSTAKE is among the most recent protocols making Bitcoin a yield-generating asset with more capital efficiency.
Binance says that the decision was in line with a broader strategy that pursues a leaner set of product offerings.
Franklin Templeton’s digital assets division has released a note to its investors introducing Bitcoin-based non-fungible tokens (NFTs), highlighting a surge in activity within the Bitcoin ecosystem. The asset manager attributes this increased momentum to various factors, including the emergence of Bitcoin (BTC) NFTs called Ordinals, the development of new fungible standards like BRC-20 and Runes, the growth of Bitcoin Layer 2 (L2s) solutions, and the expansion of decentralized finance (DeFi) applications built on the Bitcoin network. Bitcoin Ordinals Shine According to the Bitcoin ETF issuer’s report, activity in the Bitcoin NFT space is gaining momentum. In particular, Ordinals have seen a significant increase in trading volume over the past few months. This growth is evident in Bitcoin’s dominance in terms of trading volume, which surpassed Ethereum (ETH) in December 2023, as shown in the accompanying chart. Related Reading: Trouble Ahead? Binance Coin Futures Market Under Pressure With Negative Funding Rates In addition, several collections of Bitcoin Ordinals are emerging as dominant players in the NFT market, both in terms of trading volume and market capitalization. These collections include NodeMonkes, Runestone, and Bitcoin Puppets, which have an aggregate market cap of $353 million, $339 million, and $168 million, respectively. They are the most notable collections. In terms of trading volume over the past 30 days, the report shows that these three collections recorded trading volumes of $81 million, $85 million, and $38 million, respectively, over the past month. The asset manager further claimed that what distinguishes BTC Ordinals from NFTs on other blockchains, such as Ethereum or Solana, is that they contain raw data recorded directly on the Bitcoin blockchain. This feature contributes to the attractiveness and growing popularity of Bitcoin Ordinals, as evidenced by market cap and trading volume figures. Franklin Templeton, known for its involvement in the ETF market, was one of the issuers that launched a spot BTC ETF in the United States earlier this year. Its ETF, which trades under the ticker name “EZBC,” has seen total inflows of 281.8 million since its January 11 launch, according to BitMEX research data as of April 3. Despite its zero-fee structure, Franklin Templeton’s ETF has seen a significant difference in flows compared to the leading players in the newly approved ETF market, such as Blackrock (IBIT) and Fidelity (FBTC), which have seen flows of over 14 billion and 7.7 billion, respectively. Binance To Discontinue Support For BTC NFTs In a recent blog post, crypto exchange Binance announced it would discontinue support for Bitcoin-based NFTs on its marketplace. Less than a year after their introduction, Binance will no longer facilitate airdrops, benefits, or utilities associated with BTC NFTs, citing a need to streamline its product offerings in the NFT space. Related Reading: Injective Whales Go On $24.8 Million Buying Spree, Is This The Next Solana? Binance states that users who own Bitcoin NFTs are advised to withdraw them from the Binance NFT marketplace via the Bitcoin network before May 18, 2024. Effective April 18, 2024, users can no longer purchase, deposit, bid, or list NFTs via the BTC network on the Binance NFT Marketplace. Any existing listing orders affected by this change will be automatically canceled simultaneously. Currently, BTC is trading at $68,300, up a modest 3% in the last 24 hours. It is approaching the significant milestone of $70,000, a level the cryptocurrency has struggled to maintain several times. Featured image from Shutterstock, chart from TradingView.com
Bitcoin miners are reaping the benefits of Runes after the halving, with skyrocketing transaction fees lessening the impact of reduced block rewards.
With the creation of this new protocol, many projects have emerged to adopt and utilize Runes.
These tokens are gaining popularity in the crypto world due to their unique features and benefits. Here are the top 10 BRC-20 tokens
A prominent non-fungible token (NFT) protocol based on the Bitcoin blockchain, “Ordinals,” surpassed an impressive benchmark in a significant turn of events. The network’s transaction surged to 10 million a few days after the Ordinals creator, Rodarmor, announced stepping down from the project. Related Reading: Pepecoin Eyes Rebound As It Finds Support In Strong Algorithm Data Score Reaching over 10 million inscriptions suggests that many transactions have occurred on the protocol. Casey Rodarmor tweeted that he had stepped down as the lead maintainer of Ordinals. He claimed that he was not giving Ordinal full attention and handed over the role to a programmer, Raphjaph. He further emphasized that donations from the community will fund the coder’s work on the project. Ordinals Protocol And Its Rapid Growth Bitcoin Ordinals is a protocol that supports the transcription of a unique identifier to individual satoshis (SATs) to enable easy tracking during transactions. After the launch of Ordinals in January, the protocol quickly gained popularity as a means to create new assets on the Bitcoin blockchain. Initially, Ordinals served to “inscribe” data on individual satoshis (the smallest divisible unit of BTC). However, the rapid growth in the number of Ordinals inscriptions occurred when the BRC-20 token standard was introduced in early March. Related Reading: Floki Inu: Does Meme Coin Have What It Takes To Re-Enter Top 100 Spot? This new token standard, established by the pseudonymous “Domo,” enabled users to mint new tokens on the Bitcoin blockchain. According to data from BRC-20.io, in the first week, the number of Bitcoin-based tokens jumped from a hundred to 25,000 at the time of writing. The introduction of the BRC-20 token standard has expanded Bitcoin’s functionality. This increased utility has boosted the adoption and use of the Bitcoin blockchain for tokenization and asset creation. Controversy Surrounding Bitcoin Ordinals – Efficiency And Speed Concern The growth of Ordinals has not been without its share of controversy, as critics among the Bitcoin community have raised concerns about its method of “inscribing” assets on the network. They argue this approach is “inefficient and wasteful,”, particularly regarding block space and transaction fees. In response, alternative developers have been exploring using smart contracts to mint assets and non-fungible tokens (NFTs) on the Bitcoin blockchain. They aim to address the efficiency issues associated with Ordinals by leveraging smart contracts. On the other hand, proponents of the initiative have praised Ordinals for its ability to attract new users to the broader Bitcoin ecosystem. Notably, even prominent anti-Bitcoin advocate Peter Schiff recently minted a small number of NFTs on Bitcoin using the Ordinals protocol. While the surge in Ordinals-related activity has increased BTC transaction fees, miners have greatly benefited from this heightened network engagement. According to data from Dune Analytics, miners have received over $44 million in fees related to Ordinals transactions. Featured image from Pixabay and chart from TradingView
The number of Ordinals has grown from one to 10 million in less than six months.
The Bitcoin Ordinals have experienced exponential growth, skyrocketing from a single inscription to 10 million within a span of less than half a year.
The BRC-721E token standard was launched by the Ordinals market and the Bitcoin Miladys NFT collection, allowing traders to transfer their ERC-721 NFTs to Ordinals.
Wu-Tang Clan's Ghostface Killah is about to drop new tracks on the Bitcoin blockchain through a new Ordinals collection.
Let's break it down in plain and simple terms. This article is all about how to create Ordinal Inscriptions.
According to Leonidas, the project lead of Runestone, the only way to have been eligible for a Runestone was to show up in the first year of Ordinals when nobody believed in this movement.
Bitcoin developers decided to team up and give some structure to the whole thing by formalizing the BRC-20 token standard.
Ethereum maintained its dominance but saw a temporary decline as Bitcoin Ordinals gained traction.
The post Despite BTC Ordinals Popularity, NFT Trading Volume Drops 35% appeared first on BitPinas.
With the rise of Ordinals on Bitcoin (BTC) sparking debate over how users should store their NFTs and blockchain gaming projects searching for cheaper, secure ways to store data, it’s time to revisit the discussion surrounding decentralized storage coins. Decentralized storage protocols Filecoin (FIL) and Arweave (AR) show similar price action, leaving investors with a [...]
The post NFTs, gaming and storage: The key to Filecoin and Arweave accruing value? appeared first on Crypto Breaking News.
In what seems like a parody but isn’t, Economist, gold proponent and avid crypto skeptic Peter Schiff has unveiled a collaborative nonfungible token (NFT) art collection on Bitcoin that will soon go up for auction. The reaction from the crypto community has been mixed, with people generally baffled, amused, welcoming — especially Ordinals proponents — [...]
The post Crypto hater Peter Schiff to drop Bitcoin Ordinals NFT art collection appeared first on Crypto Breaking News.
World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.
FREE CRYPTO COINS
AVAILABLE FOR RESERVATION
ALREADY ALLOCATED
No fees. No catch. Your crypto journey starts here.
World Crypto Global
