A major first in the history of the Bitcoin network. BRC-20 tokens based on the Bitcoin network via the Ordinals protocol currently have a combined market value of over $900 million. For members of the crypto community as well as analysts, this marks the rapid rise of an emerging asset niche on the most famous blockchain.
Matt Furie is the creator of Pepe The Frog, a cartoon character representing a “chill frog dude” that recently gained popularity in the world of cryptocurrencies. He stated during a live Twitter chat that he is not aware of the existence of Pepecoin. Known for his lawsuits against bad jokes about his iconic meme, Furie may take legal action again.
The Bitcoin network is experiencing intense activity with the speculative frenzy surrounding Ordinal's BRC-20. This influx has led to real network congestion, resulting in a drastic increase in transaction fees. Yesterday, block number 788695 set a historical record by reaching 6.7 bitcoins in fees, exceeding the 6.25 bitcoin block subsidy.
There is a heated debate going on in the crypto world about the centralization of Ripple (XRP) between supporters and detractors of this cryptocurrency. Justin Bons, founder of CyberCapital, has accused Ripple's leaders of making false promises of decentralization. But Matt Hamilton and David Schwartz are not backing down, and they vigorously refute these allegations. The debate is raging, and it doesn't seem to be stopping anytime soon!
In recent weeks, interest in cryptocurrencies has certainly increased among users. This includes Bitcoin (BTC). Memecoins like Shiba Inu are concerned too. However, this interest doesn't seem to be shared by all users.
Blockchain analysis platform Santiment is optimistic about the upcoming price increase of five cryptocurrencies. However, the context favors a significant decrease in altcoin prices compared to Bitcoin (BTC). Nevertheless, Santiment believes that Litecoin (LTC) and four other altcoins are undervalued.
Two Bitcoin developers are stepping up to the plate to criticize the increased transaction fees caused by BRC-20.
One of the biggest fears of crypto players is that a blockchain will be attacked. This situation almost always results in significant losses and undermines investor confidence in the crypto industry. However, there have been recent rumors circulating about the possibility of a denial-of-service (DoS) attack on Bitcoin. It should be noted that this type of cyberattack makes transactions very difficult by disrupting the functioning of the affected network. Bitcoin maximalists have decided to react to ease concerns.
Despite the ongoing global economic crisis, the cryptocurrency space continues to grow. Evidence of this can be seen in the number of countries that have already adopted cryptocurrency. However, there are still others who remain skeptical about promoting investment in Bitcoin. Such as Ireland. According to the governor of the Central Bank of Ireland, Bitcoin is a Ponzi scheme.
Nicholas Merten, a widely followed crypto analyst, recently sounded the alarm by stating that the massive sale of stocks by investing legend Warren Buffett does not bode well for financial markets, including Bitcoin. According to him, the current rally in the cryptocurrency is sorely lacking in price models to support a short-term uptrend, making a significant price increase unlikely.