Binance releases Bitcoin/EVM subscription market, becoming a rival to OKX

Compatible with Binance Inscriptions Marketplace

Binance Web3 Wallet, a self-custodial virtual currency wallet by Binance, is now available on the newly launched e-marketplace Binance Inscriptions Marketplace.

Binance Inscriptions Marketplace is a marketplace where you can buy and sell Bitcoin Ordinals, BRC-20, and EVM chain-based inscription NFTs/tokens. It is a service similar to OKX’s “OKX Web3 Marketplace.”

In an announcement, Binance said, “The BRC-20 token ORDI has reached important milestones, including reaching a market capitalization of $1 billion and over 200 million inscriptions generated across various blockchains. Binance users are encouraged to follow this evolution. “We believe the time is ripe to explore and profit from this area.”

Since ORDI was listed on Binance in November last year, its price has increased by a maximum of 6.8 times.

Users of the Binance Web3 Wallet can buy and sell on the Binance Inscriptions Marketplace, as well as inscribe (mint) NFTs and tokens within the wallet.

Inscription is a movement that started with Bitcoin’s Ordinal protocol, and is a new mechanism for recording data such as NFT images and text directly on the blockchain (completely on-chain).

As Bitcoin subscriptions have become popular in Asia and elsewhere, subscription services have appeared one after another on EVM chains such as Arbitrum and Polygon, clogging the network with transactions and causing gas prices to soar. Ta.

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