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BRC-20 Tokens Surge After Bitcoin Surges Above $67K: Could 99Bitcoins Token Explode As IEO Nears?
Bitcoin’s (BTC) latest rally above $67,000 has triggered a chain reaction in the cryptocurrency market.
Almost all BRC-20 tokens have rallied in the last 24 hours, riding the bullish momentum.
Meanwhile, some investors are keeping an eye on 99Bitcoins Token (99BTC), believing that it could be the next to recover after the pre-sale phase ends.
BRC-20 Tokens Rise as Bitcoin Rally Fuels Demand
For those who don’t know, BRC-20 is an experimental token standard on the Bitcoin blockchain.
BRC-20 tokens are like Bitcoin’s cousins: they use the Ordinals protocol to hook into the OG cryptocurrency blockchain.
Unlike their Ethereum counterparts, BRC-20 tokens do not rely on smart contracts.
Instead, they use an ingenious trick: they embed JSON data into the smallest bits of Bitcoin, called satoshis.
Over the last 24 hours, these tokens have been on a tear.
Total market capitalization for BRC-20 tokens has surpassed 1.6 billion dollarsand trading volumes reached $589 million.
Leading the ranking are ORDI and SATS, both growing at double digits.
ORDI rose 10%, while SATS outpaced it with a 12% gain.
But the real star has been Bitcoin Wizards, which is up more than 17% since yesterday.
However, it wasn’t all sunshine and rainbows: BeFi Labs took a small hit, proving that not all tokens benefit from a bull run.
Bitcoin Surges Above $67K, Bolstering Investor Optimism
The resurgence of BRC-20 tokens is not a random event.
This is all due to the latest Bitcoin rally.
The OG cryptocurrency has just surpassed $67,000, shaking off most of the losses it suffered earlier in the week.
In fact, BTC is now almost back to Monday’s local high, up 25% in the last three weeks.
At this rate, Bitcoin could be on its way back to its all-time high, which is now just 9% away.
And the timing couldn’t be better.
The Bitcoin 2024 conference has just kicked off in Nashville.
It’s like a group of cryptocurrency enthusiasts and celebrities, from Donald Trump to Michael Saylor, getting together to talk about Bitcoin.
Speaking of Saylor, he calls 2024 “year one of widespread adoption of Bitcoin.”
With MicroStrategy holding over 200,000 Bitcoin, it may be on the right track.
All of this is creating excitement around BTC, which is why the coin’s price has increased in recent days.
So, while there is no direct news about the BRC-20 tokens, they are taking advantage of the bullish trend of Bitcoin.
99Bitcoins Rising Star Token Surpasses $2.5M in Pre-Sale as Developers Prepare for DEX Listing
Thanks to all this hype about BRC-20, some investors are keeping an eye on newcomers like 99Bitcoin Token.
This token, tied to the well-established educational platform 99Bitcoins, is about to launch its pre-sale.
There is only one phase left before the planned conclusion on August 6th: the grand launch of the DEX is scheduled for August 8th.
What is really interesting about 99Bitcoins Token is the team’s plan to later transition to the BRC-20 standard.
This move could allow 99BTC to benefit from the same factors that are currently driving the value of other BRC-20 tokens.
By leveraging the Bitcoin ecosystem, 99Bitcoins Token will also benefit from the absolute security of the blockchain.
Investors are excited about this prospect.
The interest is huge, as the pre-sale raised $2.5 million.
Adding to the interest is the fact that pre-sale investors can immediately stake their 99BTC tokens and generate annual returns of 681%.
This is much higher than most staking protocols out there.
It’s no surprise that this combination of cryptocurrency education, BRC-20 ambitions, and staking rewards has caused 99Bitcoins Token to explode on social media.
The project Twitter Accounts has over 21,700 followers, while the official Telegram Channel boasts nearly 4,800 members.
All in all, 99Bitcoins Token seems to be in the right place at the right time.
If BRC-20 tokens continue to rise in the second half of the year, 99BTC may be able to capitalize.
Visit the 99Bitcoins Token Pre-Sale
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