Executive Reveals Community Demands Amid BRC-20 Boom
Jay Hao, CEO of cryptocurrency exchange OKX, disclosed receiving widespread calls to list additional Bitcoin Ordinals tokens. This follows a 30% surge in the total market capitalization of BRC-20 tokens within 24 hours. Addressing his 65,500 followers on X (formerly Twitter), Hao acknowledged the requests but firmly declined, stating such actions could "destroy the market."
"Many friends are urging me to list more BRC-20 tokens. While these suggestions come from good intentions, I must clarify: as an exchange, adopting the simplest strategy of listing every token might generate quick profits but would ultimately harm the ecosystem. OKX will never prioritize speed over sustainability..."
— Jay Hao (@star_okx) December 25, 2023
Key Takeaways from Hao’s Statement:
- Market Integrity Focus: OKX prioritizes long-term ecosystem health over short-term gains.
- Anti-Spam Policy: Direct listing pitches via social media are ineffective.
- Technological Commitment: The exchange emphasizes blockchain infrastructure development and transparency.
Understanding Bitcoin Ordinals and BRC-20 Tokens
Bitcoin Ordinals enable users to inscribe digital content (e.g., images, videos) onto individual satoshis—the smallest units of Bitcoin. This functionality mirrors NFT creation on other blockchains but operates natively on Bitcoin’s network. BRC-20 tokens, built atop this protocol, have recently gained traction, evidenced by their $2.2 billion market cap (per CoinGecko data).
OKX’s Five-Point Listing Criteria
- Technology-Driven: Tokens must demonstrate robust blockchain utility.
- Community Adoption: Reflects potential for widespread acceptance.
- Experienced Teams: Founders/investors should show long-term project commitment.
- Regulatory Compliance: Legal adherence is mandatory.
- Research-Based Selection: Listings derive from internal market analysis—no direct pitches accepted.
Market Context and Performance
- BRC-20 Growth: 33.8% 24-hour increase to $2.2B market cap.
- Bitcoin Price: Traded at $43,654 (marginal daily uptick).
👉 Explore Bitcoin Ordinals trading strategies
FAQ Section
Q: Why is OKX hesitant to list more BRC-20 tokens?
A: CEO Jay Hao believes indiscriminate listings could destabilize the market long-term, despite short-term profit opportunities.
Q: How do Bitcoin Ordinals differ from NFTs?
A: Ordinals store data directly on Bitcoin’s blockchain via satoshis, whereas NFTs typically reside on smart-contract platforms like Ethereum.
Q: What factors does OKX consider before listing a token?
A: The exchange evaluates technological merit, community demand, team expertise, regulatory compliance, and internal research findings.
Q: Where can I track BRC-20 token performance?
A: CoinGecko provides real-time capitalization data for BRC-20 tokens.
👉 Learn about OKX’s token listing process
Source: The Daily Hodl
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