KuCoin and Gate Exchanges to Add BRC-20 Memecoin Sats to Their Listings

Crypto Exchanges to List Sats

If you’re involved in the world of cryptocurrency, you may be interested to know that crypto exchanges Gate and KuCoin are both planning to list Sats, a memecoin based on the Ordinals BRC-20 token standard, on their platforms in the near future. Gate has already opened deposits for Sats, while KuCoin is set to enable deposits with trading expected to begin soon.

Sats is a memecoin created on Bitcoin using the Ordinals protocol, named after ‘satoshis,’ the smallest unit of Bitcoin. The token is currently trading at $0.00000012 with a diluted market capitalization of $270 million and is held in 39,000 user wallets on the Bitcoin network.

Planned Listings and Binance Announcement

These planned listings of Sats come just a day after Binance announced it would list Ordi, another popular BRC-20 memecoin for trading. Memecoins make up the majority of tokens created using the Ordinals protocol and are designated as BRC-20 tokens.

What are BRC-20 Tokens and the Ordinals on Bitcoin?

The Ordinals protocol was introduced by developer Casey Rodarmor in early 2023, allowing developers to assign a distinct identity or file onto every satoshi within the Bitcoin network through a process called inscription. This mechanism set the stage for both fungible (interchangeable) tokens, like BRC-20 tokens, and non-fungible tokens (NFTs).

Another developer named Domo introduced an experimental token standard built upon the Ordinals protocol called BRC-20 in March, enabling users to issue fungible tokens like ordi and others by inscribing specific files to satoshis.

Hot Take: The Future of Memecoins

The listing of Sats and other memecoins on major crypto exchanges signals a growing trend toward the acceptance and integration of these types of tokens into mainstream cryptocurrency trading. As more exchanges list memecoins, it’s clear that they are becoming an increasingly important part of the crypto landscape, offering both opportunities for investment and potential risks due to their volatile nature.