Tokens based on the Bitcoin blockchain are emerging as the newest play among market participants after weeks of a bitcoin (BTC) price frenzy driven by expectations of an exchange-traded fund approval.
The BRC-20 category of tokens has added some 21% as a sector in the past 24 hours. Infrastructure token trac (TRAC) rose 93% to lead the gains, followed by meme (MEME) at 69% and nals (NALS) at 36%.
The BRC-20 standard (BRC stands for Bitcoin Request for Comment) was introduced in April to allow users to issue transferable tokens directly through the network for the first time. The tokens, called inscriptions, function on the Ordinals Protocol. That