Chainfeeds Guide:
BRC2.0, Classic Bitcoin Non-Fungible Token, Runes, and Alkanes, What is the Market Playing?
Article Source:
https://www.theblockbeats.info/news/59137
Article Author:
cookies
Perspective:
cookies: BRC 2.0 is currently the most discussed concept in the Chinese-speaking Bitcoin ecosystem, released by the BRC20 chief maintenance team Best in Slot, with the core goal of supporting smart contracts for the BRC20 protocol. The upgrade will officially launch on the mainnet at Block height 909969 (estimated to be August 14), endorsed by the Layer 1 Foundation (L1F) initiated by BRC20 founder domo. According to the technical architecture diagram, BRC 2.0's smart contracts are completed through an off-chain "EVM executor", with only interaction initiation and execution results being recorded on-chain, which means the actual execution and state of smart contracts are "black box" operations. This off-chain execution and on-chain recording mode has raised some doubts. However, it is undeniable that BRC20 is currently the most successful and influential asset protocol in the Chinese-speaking Bitcoin ecosystem. This upgrade, though controversial, is highly innovative and represents a key step towards intelligent and asset diversification in the Bitcoin ecosystem, once again highlighting the important role of Chinese-speaking developers and communities in driving ecological innovation. On the eve of BRC 2.0 activation, the first Non-Fungible Token project built on this protocol, Adderrels, has already ignited market enthusiasm. Its floor price is 0.0143 BTC (approximately $1,687), with a trading volume exceeding 6 BTC (approximately $730,000) in the past 7 days, firmly leading BRC 2.0 projects. The project's widespread attention is not only due to the narrative dividend of being "the first" but also benefits from strong support from the Chinese-speaking community and a clear token distribution plan - 55% of tokens will be allocated to holders and stakers in the future. Out of the current total of 3,420 Non-Fungible Tokens, over 2,029 have been staked, with a staking rate close to 60%, demonstrating extremely high community confidence and participation. Additionally, with only 225 listings on Magic Eden, its scarcity is further consolidated. The market generally expects holders to not only receive airdrop rewards but also gain white list qualifications for more new projects, making it viewed as a "gold shovel" asset in the BRC 2.0 ecosystem. Furthermore, the BRC 2.0 "pre-issued" token $LIQUID has also attracted attention, pushing up miner fees during the minting period, showing capital's rapidly warming enthusiasm for the new ecosystem. Besides emerging BRC 2.0 projects, established Non-Fungible Token projects in the Bitcoin ecosystem have also performed well recently. NodeMonkes rose nearly 80% in the past week, with a trading volume of 18.5 BTC (approximately $2.2 million). Even without major positive news, merely announcing the launch of a zero-fee trading market on July 25 activated market enthusiasm. Bitcoin Puppets, Taproot Wizards, and OMB have maintained their leading positions, demonstrating the strong appeal of old projects. Art projects like CENTS have also performed excellently, rising 70% in the past 7 days with a trading volume of 1.8 BTC (approximately $220,000), once again crossing the 0.01 BTC price line and gradually solidifying its position as the leading Bitcoin art Non-Fungible Token. Although its artist Rutherford Chang passed away in February this year, his concept has been eternally inherited on the Bitcoin chain. Additionally, the Runes ecosystem is gradually emerging from its low point. Although $DOG experienced a short-term pullback, it became a focus of funds after being listed on Kraken and receiving substantial additional holdings from C2 Blockchain. The positive signals across the entire ecosystem indicate that while the Bitcoin ecosystem has not returned to its peak, it is steadily recovering, especially under the promotion of the Chinese-speaking community, still maintaining strong vitality and influence.
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