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The fall from grace of the BRC20s: Huge sales are coming!
With the withdrawal of Bitcoin (BTC), BRC20, which saw great selling pressure, created a panic environment.
There is no trace of the BRC20, which has taken the market by storm with an incredible impact in the past weeks. With BTC entering a downtrend, the BRC20s, which lost their mood, started to turn negative in terms of both price and investor interest. It was also a major concern that the top two projects that lost the most value in the last 24 hours were SATS and ORDI, leading the BRC20s.
Bitcoin Core developer Luke Dashj has stated that the era of Ordinals and BRC20 will come to an end after the v27 update. The BRC20s, which were shaken by this discourse of the developer, began to fade gradually. Later, the decline in BTC was the main factor that dealt a blow to the BRC20s. It seems that Luke Dashj's critical rhetoric caused the breathless rises to turn into a decline in a short time.
Whether BRC20s, which are still at high levels in terms of volume, can catch a trend again has become a critical topic. Although the volume was high, the fact that sales constituted a large part of this data naturally worried the investor. In the next period, it seems that the path of the BTC and BRC20s will be followed with curiosity.