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Last week, comments from Bitcoin Core client developer Luke Dashjr on Bitcoin Script published in X led to significant fluctuations in the price of the BRC20 token $ORDI. Dashjr initially criticized Script, stating that it was based on a vulnerability officially listed as a ""network security vulnerability"" with the identifier CVE-2023-50428 by the United States National Vulnerability Database (NVD). Despite this, the price of $ORDI did not plummet; instead, it increased by 18% in the past 24 hours.
As Bitcoin Script continued to attract attention, Binance announced the listing of another BRC20 token, Sats (1000SATS), at 8 p.m. tonight (Beijing time). The spot trading pairs opened for 1000SATS/USDT, 1000SATS/FDUSD, and 1000SATS/TRY. Sats, named after Bitcoin's creator Satoshi Nakamoto, is the abbreviation for the smallest unit of Bitcoin, ""satoshi.""
Binance emphasized in the announcement that Sats is a meme token issued by an anonymous team, and the token has been assigned a seed label. Investors are advised to be aware of the potential for drastic fluctuations in the token.
Following the news of Binance listing Sats, there was a surge in the price of Sats. According to CoinGecko data, the price of Sats increased by 81% in the past hour, doubling in a short period. As of the last update, it continued to reach historic highs, currently reported at $0.0000004644.
The trading volume of Sats has exceeded $100 million. Before being listed on Binance, the spot trading volume of Sats was mainly concentrated on Gate.io and BitMart, accounting for 52.33% and 21.13% of the market share, respectively.
The top 20 holders own nearly 16% of the supply. Regarding the concentration of holders, data monitored by Lookonchain on-chain data indicates that the top 20 Sats holders collectively own up to 333.3 trillion Sats, valued at approximately $150.8 million, representing 15.90%. The total supply is 2.1 trillion.
Among them, six holders obtained their Sats through minting, totaling about 78.57 million Sats, equivalent to $35.5 million.
Previously, the listing of $ORDI brought significant benefits to exchanges. According to CoinGecko data, the overall spot trading volume of $ORDI once reached $1.31 billion in 24 hours, surpassing the market capitalization of $ORDI itself. In this massive trading volume, Binance and OKX, two major exchanges, accounted for over 79.5% of the share, bringing them considerable fee income. This may explain why Binance chose to add more BRC20 tokens during the hot period of BRC20. |
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Post time 17-12-2023 13:56:46