Ten Leading BRC20 Cryptocurrencies

PUBLISHED: Jan 24 2024 @ 09:17 | Comments (0) | More info about Azeez Mustapha

Within the realm of digital assets, BRC-20 tokens emerge as a unique class of fungible assets ingeniously established on the Bitcoin blockchain. What distinguishes them is their direct integration into Bitcoin’s satoshis through the utilization of JSON code, setting them apart from traditional tokens prevalent on platforms like Ethereum. Adopting the BRC-20 standard presents a fresh perspective on unlocking Bitcoin’s potential, facilitating the effortless creation and transfer of tokens within the Bitcoin ecosystem. Let’s delve into the intricacies of the top ten BRC20 cryptocurrencies and explore each one’s distinctive attributes.

ORDI

Price action in the ORDIUSDT daily market had earlier seen an explosive burst on the upside. The uptrend started around November last year and came to a halt on January 1st, 2024. A downward correction resulted, and price action in this market hasn’t been able to pick up bullish momentum toward higher marks. Recently, price action has taken a stronger bearish tone as it crossed below the middle limit of the Bollinger Bands. Additionally, the Moving Average Convergence Divergence (MACD) indicator has signaled that downward forces are quite strong at this point and may push prices toward psychological support at the $50 mark.
Current Price: $54.30
24-hour Trading Volume: $466 million
24-hour Gain or Loss: 1.01%
Circulating Supply: 21,000,000
Market Capitalization: $1.1 billion
Total Supply: 21,000,000

SAT (1000SATS)

The 1000SATS token is a recently launched token, so it has a small trading history over a daily time frame. Here, it could be seen that its price action had earlier consolidated between the Fibonacci Retracement levels 38.20 and 50 before breaking down the support at the 50 Fibonacci Retracement level. Consequently, bears seem to have become more confident and therefore pushed prices below the $0.0005000 mark. The token now trades at $0.0004200, while the MACD indicator is still suggesting that more price declines may be seen toward the $0.0004000 mark.
Current Price: $0.0004200
24-hour Trading Volume: $81 million
24-hour Gain or Loss: 1.48%
Circulating Supply: 2,100,000,000,000
Market Capitalization: $893 million
Total Supply: 2,100,000,000,000

Multibit (MUBI)

The Multibit token is the third token on the leading 10 BRC20 tokens, and it seems a bit older than the above-examined token. This market has been moving approximately sideways since the previous session until now, considering the size of the corresponding price candle. Likewise, trading activities in this market have been occurring below the middle band of the Bollinger Bands indicator. The MACD lines have fallen below the equilibrium level, and their bars are now solid red. Technically, this implies that downward forces are strong in this market and may cause steeper falls towards the $0.1000 mark.
Current Price: $0.1381
24-hour Trading Volume: $14 million
24-hour Gain or Loss: 0.59%
Circulating Supply: 950,000,000
Market Capitalization: $131 million
Total Supply: 1 billion

OXBT

The OXBT token stands in the 4th position on this list. Its price history, as presented on CoinmarketCap, shows that the market has re-entered bearish territory. The price of this token now stands below the $0.02400 threshold. At this point, bearish momentum may build up and force the market further below this threshold and closer to the $0.02200 mark.
Current Price: $0.2401
24-hour Trading Volume: $130,852
24-hour Gain or Loss: 0.05%
Circulating Supply: 200,000,000
Market Capitalization: $4.8 million
Total Supply: 200,000,000

SATS

The SATS price action has been on a steady downtrend since the market saw its peak on Christmas Day. Ever since then, the market has been steadily retracing to lower levels. At this point, recent price candles can be seen hugging the lowest band of the Bollinger Bands indicator. The ongoing session has poked through the support at the 61.80 Fibonacci Retracement level. Likewise, it could be seen that the RSI indicator suggests that the bearish momentum has been too strong. This is seen as the indicator lines haven’t been able to lift off the lowest mark of the oversold. Consequently, this token will likely retract to the $0.0000003000 mark.
Current Price: $0.0000004226
24-hour Trading Volume: $49.69 million
24-hour Gain or Loss: 1.18%
Circulating Supply: 2.1 trillion
Market Capitalization: $881.37 million
Total Supply: 2,100,000,000,000,000

Rats

The Rats token is the 6th token on this list of leading BRC20 tokens. As of the time of writing, it continues to trade above the $0.0002100 mark. The token’s price action continues to trade below the Bollinger Bands middle limit, which has bearish implications. The current session, as of the time of writing, has been experiencing thinning volatility. This is made evident by the size of the price candle representing the session. Meanwhile, the MACD indicator signals that downward forces are in control of this market. Consequently, the market may soon break down the support at the $0.002100 price level.
Current Price: $0.0002165
24-hour Trading Volume: $27.33 million
24-hour Gain or Loss: 1.70%
Circulating Supply: 1 trillion
Market Capitalization: $207.11 million
Total Supply: 1 trillion

BRC20.com (.COM)

The BRC20.com token takes the 7th spot on this list. The price action for this token continues to edge lower as trading continues. There have been a few breaks along the way, but the downtrend soon resumes, and prices continue to edge lower. On the daily chart, the ongoing session has presented a break to the downtrend below the Bollinger Band MA line. The MACD bars are pale red and are getting shorter. Likewise, the indicator lines are now pointed sideways. However, part of this may be due to the correction the ongoing session has presented. Technically, this market may still continue towards the $1.55 mark.
Current Price: $1.94
24-hour Trading Volume: $5.50 million
24-hour Gain or Loss: 3.51%
Circulating Supply: 21 million
Market Capitalization: $40.80 million
Total Supply: 1,000,000,000,000

Mice (MICE)

Another BRC20 token is Mice. It occupies the 8th position on this list. This token has been steadily reducing volatility. Its price action hasn’t been able to break free from below the Bollinger Band MA line. The applied Bollinger Bands on this chart attest to the decreasing volatility through their narrowing bands. Meanwhile, the MACD bars have taken a steeper path recently, which points out that bearish momentum is on the increase here. It’s likely that the token will fall through the psychological support at the $0.01000 price level.
Current Price: $0.01413
24-hour Trading Volume: $5.52 million
24-hour Gain or Loss: 9.59%
Circulating Supply: 1 billion
Market Capitalization: $13.61 million
Total Supply: 1,000,000,000

MMSS

Next in line is the MMSS token, as it occupies the 9th spot on this list of leading BRC20 tokens. Price action in this market suggests that headwinds downward and upside forces are in a tug of war. In the past three sessions, it could be seen that the price candles have been appearing green with an almost centrally positioned body. The one for the ongoing session has its body shaped almost like a dash. However, to the advantage of bears, price action remains below the middle limit of the Bollinger Bands. But on the contrary, the RSI lines are rising out of the oversold region. This also points out that buyers may be gaining momentum. Therefore, upside and downward corrections towards the $0.4626 (resistance) mark and $0.3430 (support) mark have a 50-50 chance in this market.
Current Price: $0.4751
24-hour Trading Volume: $4.55 million
24-hour Gain or Loss: 7.17%
Circulating Supply: 21 million
Market Capitalization: $9.90 million
Total Supply: 21,000,000

Bitcoin Cats (1CAT)

Lastly, on this list of BRC20 tokens is the Bitcoin Cats token. It was launched a few days before last year’s Christmas. Its price action on the daily chart seems to be attempting to stabilize near its all-time low. This option comes from the fact that the last price candle seems to be attempting to leap off the lowest limit of the Bollinger Bands. Likewise, the RSI leading line has started rising upwards following a crossover in the oversold region. Traders can at least anticipate a correction towards the $0.00600 mark in this market.
Current Price: $0.004970
24-hour Trading Volume: $4.66 million
24-hour Gain or Loss: 43.35%
Circulating Supply: 5,000,000,000
Market capitalization: $26,053,197
Total Supply: 5,000,000,000

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