We know that crypto can be volatile. As an example, the current market is dipping. Right now, we have the SEC going after Binance and some major cryptocurrencies in the US. So, what can you do during such market conditions? Well, this is a great opportunity to go shopping at discount prices.
The best thing to do is to look around at what have been the recent top narratives. BRC-20 tokens are one of these narratives. So, this is a great opportunity to take a closer look at some top BRC-20 tokens.
#1: Ordinals (ORDI)
My first pick is the Ordinals (ORDI token). This is the OG project of BRC20 tokens. But that’s not the only reason I picked them. There’s a lot more to their story. So, let’s take a look at that. For example, they potentially have a good ecosystem built around this project. There’s also a recent video we did on ORDI’s.
Source: Twitter
Remember the $APE coin of Yuga Labs? After the success of BAYC, they needed an ecosystem around it. This involved big players, so it was easy to propagate the idea. ORDI is like APE. It also has the first-mover advantage.
So, although the ecosystem is a good point, it’s not good enough to sell me on ORDIs. But here are some stronger points that made my decision easier.
- They have an outstanding narrative and a good community.
- Excellent tokenomics that mimics BTC.
And that last one is a winner! As we all know, Bitcoin has some of the best tokenomics out there. There’s a total supply of 21 million ORDIs, and all tokens are already in circulation. Here’s some background on this token.
- It was only launched as of 9th March this year.
- You could mint a batch of 1,000 tokens max.
- It was a free mint. You only had to pay the transaction costs.
- In early May, they reached an ATH of $28.52.
Source: Twitter
So, what started as an experiment, now has the potential of a black swan event. Currently, there are plenty of other BRC-20 projects. There are actually so many, that the BTC network got congested because of them. The BTC transaction fees also saw an increase. But it changed the Bitcoin narrative. You can use Bitcoin now as cash!
The Ordinals also changed the Bitcoin narrative. You can use Bitcoin now as cash! You can buy ORDIs at KuCoin, OKX, Gate.io, or at Unisat. Currently, the price is $6.98. A good entry point is $5.42. The market cap is at $113.5 million. You can buy ORDIs at KuCoin, OKX, Gate.io, or at UniSat, or the Ordinals Marketplace.
#2: The Ordinals Council (CNCL)
The Ordinals Council is another prominent BRC20 project. The idea is to build a council around BRC-20 tokens. Of the 100 available seats, and almost 30 are currently occupied. As the name implies, they consider themselves authorities on all Ordinals-related matters. These 20+ people are, for example:
- CEOs.
- Venture Capitalists.
- Founders.
- Veterans in the digital asset space.
Source: Twitter
Some members have doxxed, others haven’t. Their goal is to speed up Bitcoin adoption. This includes the Ordinals and BRC20-related tokens. You can recognize council members by an orange profile picture. This is also individually inscribed. So, The Council has:
- Manifesto.
- A mission – promote the principles of Bitcoin. In other words, decentralization, innovation, and egalitarianism. They want to achieve this through the Ordinal medium.
- A vision – True ownership of wealth is accessible to all.
- Code of conduct.
Furthermore, Council members must follow a code of conduct. If they don’t follow this code, the council will hold them accountable. As a result, the council can remove them.The council has one product, the Toshipad. This is a launchpad for BRC20 tokens. It’s also the first-ever BRC-20 launchpad.
Source: Twitter
Their token is the CNCL token. The total and circulating supply is 10,000 tokens. Its current price is $189.27. It has a market cap of $2 million. You can buy CNCL at UniSat. Many influential whales hold this token. It has three use cases, for instance:
- Access to new projects – Take advantage of Toshipad. For example, airdrops, free mints, or guaranteed allocations in mints.
- Community building – Become part of the Launchpad ecosystem and community.
- Liquidity provision – Support new projects with liquidity.
So, how do you like these BRC-20 projects? Do you hold any of these or other ones? In the meantime, here’s my last pick of the day. Oshi.
#3: Oshi Finance (OSHI)
Oshi Finance is a liquidity protocol. In other words, they’re introducing DeFi on Bitcoin. They are the first liquidity pool protocol on Bitcoin. They have the Oshi Protocol. This is a DEX that functions as an AMM or Automated Market Maker. Here you can set up liquidity pools.
Source: Twitter
The Ord is the team behind this project. This team has been active in crypto for 7 years. The team has a great guide on how to set up these liquidity pools I mentioned. Here’s a link. Their OSHI token is the governance token. As a holder, you can take part in decision-making.
Their native token is the OSHI token. This launched as a free mint on 18th April 2023. Now it has a price of $304-18 with a $4 million market cap. The max, total, and circulating supply are 13,337 tokens. You can buy it on UniSat or AscendEX. If you’re looking for a good entry point, try $200.
Source: Twitter
And that’s a wrap on the current top 3 BRC-20 tokens. Let me know if you own any.
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