Ethereum [ETH] memes unwind: Does Bitcoin’s BRC-20 wield the baton now

Once referred to as unattainable, meme tokens have now appeared within the Bitcoin network. This has shifted attention from those linked to Ethereum.

The crypto community called for lightning network adoption to solve the Bitcoin network jam.network. Just a few days ago, traders were confident that Bitcoin’s limitation in allowing fungibility on its network would ensure that the meme token arena would not expand to it.But BRC-20, which only allowed the deployment of non-fungible smart contracts on the Bitcoin network, had changed that notion. At press time, over 14,000 tokens had been created under the token economy.

The BRC-20 standard, which is still in its early stages, saw incredible growth since supporting the minting of and Inscriptions. The experiment, which only began around 8 March, with its first mint phase around 4 April, has now fully added the functionality to create tokens.Since it was the period for meme tokens to flourish, most of the assets created via the network seemed like duplicates of the cryptocurrencies that have been making waves onBut it is noteworthy to point out that the memes created under the Ethereum network might be winding down their dominance.

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