Binance, the world’s largest cryptocurrency exchange, has announced the launch of an in-app Inscriptions Marketplace, providing a comprehensive platform for users to inscribe and trade inscriptions, including Bitcoin BRC-20 tokens such as ORDI.
The announcement stated: “The Inscriptions Marketplace is designed with accessibility and convenience in mind. It caters to all, from BRC-20 enthusiasts to those new to Web3, providing a secure and enjoyable experience. The introduction of the Inscriptions Marketplace is a welcome development for Binance Web3 Wallet, enhancing users’ journey through the decentralized web with its array of features.”
The Binance Inscriptions Marketplace offers a user-friendly interface within the Binance Web3 Wallet, enabling users to seamlessly inscribe and trade inscriptions, including BRC-20 tokens and Ethereum Virtual Machine tokens.
BRC-20 is an innovative token standard for fungible tokens on the Bitcoin blockchain. Unlike Ethereum’s ERC-20 tokens, which utilize smart contracts, BRC-20 tokens leverage Ordinals inscriptions, a protocol that allows data to be inscribed on individual satoshis, the smallest denomination of Bitcoin.
BRC-20 tokens are gaining traction, with Binance joining other platforms like OKX in supporting the new token standard. ORDI, the most valuable BRC-20 token by market cap, is ranked 57th, despite having pulled back from a highs of $87. It is currently trading at $57.97, according to CoinMarketCap data.