Binance has officially refuted rumors suggesting its Web3 wallet would introduce an inscription (BRC-20) trading section on January 4. A spokesperson confirmed to Lanjing Finance that the reported update is unfounded.
Market Reaction to Speculative News
Earlier unverified reports triggered a surge in Bitcoin ecosystem tokens, particularly BRC-20 inscriptions:
- ORDI: $71.17 (+30.17% intraday)
- SATS: $0.000000747894 (+15.7%)
- RATS: $0.00042832 (+30.15%)
- TURT: $0.073 (+17.89%)
👉 Explore trending crypto assets
Binance’s Web3 Wallet Development
Launched on November 8, Binance’s Web3 wallet currently excludes inscription support. During a December 12 AMA, co-founder Yi He explained this decision stems from:
- Market Volatility Concerns: Inscriptions share cyclical hype patterns with NFTs, making long-term viability uncertain.
- Resource Prioritization: The platform initially underinvested in inscription infrastructure due to strategic focus areas.
- User-Centric Roadmap: Binance now actively develops inscription capabilities to meet growing demand.
Key Industry Takeaways
- Speculation Sensitivity: Crypto markets remain highly reactive to unconfirmed exchange updates.
- Wallet Evolution: Major platforms balance innovation with risk assessment when integrating emerging asset classes.
- BRC-20 Momentum: Despite Binance’s stance, inscription tokens demonstrate sustained trading activity across secondary markets.
👉 Stay updated on Web3 wallet features
Frequently Asked Questions
Why did Binance decline to support inscriptions initially?
The team evaluated inscriptions as niche assets with unpredictable adoption curves, similar to early NFT markets.
How are BRC-20 tokens performing without Binance integration?
Independent trading pairs show robust liquidity, with ORDI and SATS consistently ranking among top-gaining assets.
When might inscription trading become available?
While no timeline exists, Binance confirms accelerated development efforts to address user demand.
Conclusion
The denied rumor highlights both the crypto community’s enthusiasm for inscriptions and exchanges’ cautious adoption frameworks. As development continues, market participants should verify announcements through official channels before acting on price movements.
Disclaimer: This content is for informational purposes only and does not constitute financial advice.