The CEO of crypto exchange OKX says he is encouraged to include more Bitcoin (BTC) ranks as the total market capitalization of BRC-20 tokens rises 30% in a single day.
In a long thread, OKX CEO Jay Hao says tells his 65,500 followers on the social media platform
“A lot of friends [are] urges me [to] display more BRC-20 tokens. Thank you for these kind suggestions. I want to clarify, by way of exchange, whether we are using the simplest strategy that is fair [to] make a list of all tokens, i think it might help [the] exchange will make money faster, but will destroy the market.
OKX never wants to be the most aggressive listing exchange in the industry. While OKX is not the biggest leader in the industry, we still have our long-term philosophies, such as building the infrastructure, not being malicious, being as transparent as possible, and always being technology-driven.
[Sending] spam mention requests to me on Twitter will never work.”
BTC ordinal numbers allow investors to inscribe digital items such as images and videos into a satoshi – Bitcoin’s smallest unit – much like how non-fungible tokens (NFTs) are minted.
Hao then lists the five principles that OKX uses to decide whether or not to list a crypto product.
“1. Whether the token is blockchain technology and product-driven.
2. The popularity of the token in the community.
3. Whether the project founders and the investor team are long-term builders.
4. Legal and Compliance Review.
5. We do not accept pitching, but pick projects from the market based on our research.”
The total market capitalization of BRC-20 tokens has got up 33.8% in the last 24 hours to $2.2 billion, according to data from CoinGecko.
Bitcoin is trading at $43,654 at the time of writing, up fractionally on the day.
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Featured image: Shutterstock/Jorm S