Money Printer Issue #7: The Next 1000X opportunity.
The Money Printer is a new newsletter focused on market strategies, opportunities, and resources in the crypto space. The first edition discusses navigating the complex world of cryptos and NFTs.
Welcome to the 7th issue of Money Printer, where I bring you the latest updates on opportunities to grow your wealth.
As the world continues to evolve and technology advances, new industries and markets emerge, presenting opportunities for everyone to make a significant profit.
In this issue, I will explore one such opportunity that has recently come to my attention, and I believe it has the potential to be a game-changer.
Before we dive into the scope of the subject, you'll have to understand what the ordinal network is and what the BRC-20 token standard is.
The Ordinals network is a protocol that allows users to uniquely identify and track individual satoshis, the smallest unit of Bitcoin.
The protocol assigns a serial number to each satoshi and tracks them across transactions, a process known as inscription.
The protocol was launched in January 2023 and allows users to transfer and receive individual satoshis.
Those satoshis may include unique recorded data such as images, videos and other info.
By now, you should have understood that Ordinals Inscriptions are similar to NFTs, as they are digital assets inscribed on a satoshi.
Now, BRC-20 is a fungible asset token standard on bitcoin just like ERC-20 on ethereum.
Unlike ERC-20 tokens, BRC-20 tokens do not require the use of smart contracts and only require a Bitcoin wallet to issue and exchange tokens.
A pseudonymous on-chain data enthusiast named Domo launched the BRC-20 implementation.
Domo calls BRC-20—short for "Bitcoin Request for Comment".
As an experiment he launched a token called $ORDI.
Due to extreme demand, Ordinal wallets, such as Unisat and Xverse quickly deployed tooling for the BRC-20 standard, and in less than 18 hours, all 21,000,000 ordi tokens were minted.
Other reasons why the BRC-20 tokens gained popularity is because of the rise of memecoins.
Just like we have $PEPE, $DOGE and others on Ethereum, ordinals have their memecoins and sometimes the same as those on Ethereum.
Enough talking, let's get into the numbers.
BRC-20 is often compared to ERC-20 in terms of potential.
If we go under that basis, there's an enormous opportunity to tap into here.
We're talking about a 1000X.
For the most part, BRC-20 tokens have been mostly free to mint or extremely cheap.
There's been a huge number of tokens that have emerged since it's implementation less than a month ago.
We're now at 14,200 total tokens created on the network.
One of the most profitable trade has been those who minted $ORDI for $0.1 each as it sat at $28 this morning.
Despite that 280X, the marketcap is still sitting at only $411M.
The other tokens on the network have yet to do their run up and the total BRC-20 token market size is of $721M.
It grew exponentially in a month, but it's still relatively small compared to that of ERC-20.
With a relatively stable steadily increasing MCAP, total volume has 20X since this morning, offering a lot more liquidity to the ecosystem.
The reason for this increase is due to the fact that $ORDI was listed on gate.io, offering a lot more liquidity to BRC-20 tokens.
Trading volume for $ORDI went from $8M to almost $200M, which is good news.
There might potentially be a lot of new BRC-20 tokens listing on exchanges.
This will catapult the ecosystem into new heights.
Here are some BRC-20 token returns from mint to ATH:
$PEPE 58X
$MEME 168X
$BANK 22X
$XING 42X
$PIZA 160X
Just a few returns inside 3 weeks.
Altought I'm writing this to share an interesting opportunity for people who're looking to gain big with riskier investments, there are definitely down sides to this.
Let's look at it.
You have to understand that with everything new, comes a lot of hype.
The current price action reflects a lot of hype and doesn't guarantee longevity of any of the tokens that you'll invest in.
Some bitcoin users view Bitcoin NFTs as an attack against the network.
Critics argue that Bitcoin should be a money network, not a tool for distributing and recording digital art pieces.
This has also caused rising transaction fees and longer confirmation wait times.
This has made it harder for many to use bitcoin for small transactions.
As of yesterday, the number of unconfirmed bitcoin transactions is at an all-time high, with more than 465,000 transactions waiting to be processed, and fees reached more than $20.
Good news is while BRC-20 has been taking the network, work is already underway for a new standard called BRC-21.
The new standard was first proposed on May 7. (yesterday)
We'll see what it has in store for us.
If you're looking to get started, I'd recommend this full guide by @its_airdrop
If you liked this please don't forget to subscribe and share this newsletter with anyone who might find it useful.
don’t forget to follow me on twitter where I drop regular content and insights.
I'm looking forward to bringing you more exciting updates on the next issue.
Hey good please check twitter dm @midleveltrader
How to search 10x or 100x token in brc-20 for minting in early mode??