OKX Launches New Explorer For BRC-20 Token

Key Points:

• Cryptocurrency exchange OKX has launched an explorer for BRC-20.
• The platform allows users to view BRC-20 token details, hold and transfer data, and more.
• Catching the trend, the exchange is building the infrastructure for BRC-20 and ORC-20, including wallets, markets, liquidity swaps, and browsers.

The founder of crypto exchange OKX said it had launched a new explorer for BRC-20 tokens.

It is known that users can view BRC-20 token details, hold and transfer data, and more. It is currently being tested by users and monitoring responses.

Previously, OKX also announced that it would be a significant contributor to the bitcoin ecosystem along with partners such as Unisat crypto wallet and build infrastructure for BRC-20 and ORC-20, including wallet, marketplace, liquidity swaps, and explorer.

So far, OKX has no plans to list these tokens, but the decision to list will depend on the evolution of technology, liquidity, and the community.

The BRC-20 memecoin craze is overwhelming the Bitcoin network. These new meme coins are being minted using the BRC-20 standard.

Daily minting fees on BRC-20 hit a record high of 247 BTC on May 7, according to data from Dune. The total fee for these Bitcoin Orders is 641 BTC. From another perspective, transaction fees on Bitcoin surpassed 400 BTC on May 7, an 18-fold increase from a month ago.

BRC-20 tokens have taken over the Bitcoin network. These tokens reach a market cap of $541 million to date. There are a total of 14,079 BRC-20 tokens, including many memes. One reason meme coins moved to BRC-20 could be because the meme coins have been clogging up the Ethereum network.

The ORDI token is the first BRC-20 token ever created. It was designed as a meme to demonstrate the potential of the new standard. Currently, the market leader token is Ordinals (ORDI) which has gained 40% in the past 24 hours and reached the $14.9 mark.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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