While Bitcoin maximalists advocate for eliminating the Ordinals protocol and its associated BRC-20 tokens, major exchanges continue embracing this trend. Following Binance, OKX has announced plans to integrate tools for minting and trading Bitcoin-based inscriptions.
- OKX sees no risks to Bitcoin’s network from BRC-20 tokens,
- The platform will soon allow users to mint and trade these tokens independently,
BRC-20 Tokens Gain Momentum on Exchanges
The market capitalization of BRC-20 tokens surpassed $1 billion last week, reinforcing their potential—particularly for meme coins. Binance recently added support for BTC-based NFT trading, and OKX now joins this movement.
Jason Lau, OKX’s Chief Innovation Officer, stated:
"Supporting Ordinals and BRC-20 is a logical step for Web3 interaction. We believe this will become a cornerstone of blockchain engagement."
New features will roll out gradually:
- BRC-20 trading begins this week,
- User-driven minting launches late May,
- Bitcoin inscription trading starts in June.
OKX Champions Ordinals Amid Bitcoin Community Debate
Increased BTC network activity has driven transaction fees to record highs, boosting miner revenue. However, active BTC addresses have declined sharply.
Lau acknowledges community polarization:
"While we view Ordinals as beneficial, we recognize divergent opinions within Bitcoin’s ecosystem. These transactions comply with network rules—we see no issue."
Some Bitcoin Core developers label BRC-20 tokens as "spam," advocating their removal. OKX, however, defends their legitimacy.
FAQ
Q: What are BRC-20 tokens?
A: They are fungible tokens minted on Bitcoin’s blockchain using the Ordinals protocol, similar to ERC-20 on Ethereum.
Q: Why is OKX supporting BRC-20?
A: OKX identifies growing demand and aligns with Web3 innovation trends, despite community debates.
Q: When can users mint BRC-20 tokens on OKX?
A: The feature will be available by late May 2024.
👉 Explore BRC-20 trading on OKX
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