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February 2, 2024

Binance Launches Bitcoin and Ethereum Inscriptions Marketplace To Support Wave of New Crypto Assets

By Rhodilee Jean Dolor

Binance just introduced a one-stop shop allowing users to mint and trade thousands of tokens in Bitcoin and Ethereum’s emerging inscription ecosystems.

The world’s largest crypto exchange says the newly launched Binance Inscriptions Marketplace enables users to buy, sell and inscribe Bitcoin’s BRC-20 tokens and Ethereum Virtual Machine (EVM) tokens.

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“In our ongoing quest to make Web3 as accessible as possible, we’re excited to announce the launch of the Binance Inscriptions Marketplace — a new platform within the Binance Web3 Wallet. This marketplace is your gateway into the world of inscriptions.”

Inscription tokens are a type of digital asset akin to non-fungible tokens. They essentially utilize the ability to write and include arbitrary data in crypto transactions to create new token and NFT economies.

Binance launches the platform amid rising popularity of BRC-20 tokens. Says the exchange,

“This market gained significant recognition when a BRC-20 token, ORDI, reached a $1 billion market cap in December 2023, illustrating the substantial potential of these assets.

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Adoption extends beyond Bitcoin, with over 200 million inscriptions across various other blockchains, highlighting their wide appeal.”

The total market cap of BRC-20 tokens is now $2.84 billion, according to CoinGecko.

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