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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

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    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

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    Shrapnel to Leave Avalanche in New Partnership with Gala Games

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    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

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    Blockchain Bookmakers: A New Era of Fair and Secure

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    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

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    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

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    Early Off the Grid Skin Holders Are Cashing In – Will You?

  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

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    What Is Copy Trading in Crypto? A Beginner’s Guide

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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Home Blockchain

Tap Protocol overtakes BRC20 in 24 hour Bitcoin Ordinals transaction activity

February 16, 2024
in Blockchain
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Tap Protocol overtakes BRC20 in 24 hour Bitcoin Ordinals transaction activity
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Tap Protocol, designed to support DeFi applications on Bitcoin Ordinals, has become the most active protocol on Bitcoin’s Ordinals network over the past 24 hours. Genii Data indicates Tap Protocol handled nearly double the transactions of BRC-20 or OrdDefi.

While Genii tracks BRC20 activity separately from other protocols, the total activity of all tokens over the past 24 hours comes to 297, while Tap saw 645 transactions.

Further, in terms of market cap, Tap Protocol’s native token, TRAC, is now just behind other Ordinals-related tokens with listings on major exchanges. A surge in user adoption is a sign of early success for Tap in building a decentralized indexer infrastructure.

Tap Protocol recently completed a $4.2 million funding round led by Sora Ventures, attracting venture capital firms like Cypher Capital and angel investors, including executives from Animoca Brands. This capital will support the expansion of Tap’s developer team and further refine the protocol functionalities, which over 14 projects have already adopted.

Analysts see the increased adoption of $TRAC may drive additional infrastructure for Bitcoin’s Ordinals space, potentially echoing DeFi Summer on Ethereum. A more robust network would incentivize developers, furthering innovation on the Bitcoin network, such as the recent TTP Liquid Fund announced on Feb. 13.

Jason Fang from Sora commented on the growth of Tap on X, stating,

“All these data are signs that we’re already on our way to build a fully decentralized indexer economy! The more holders, the more infrastructure supporting $TRAC, the more robust the TAP protocol gets, and the more developers we’ll attract to Bitcoin!”

Tap Protocol’s dominance in Ordinals transactions highlights the liquid landscape of development on the Bitcoin network. With the continued focus on Bitcoin, including companies such as MicroStrategy pivoting to a Bitcoin development company, the spotlight is clearly on Bitcoin protocols.

See also  Tap into the $7.5 Billion NFT Ecosystem

Disclaimer: Sora Ventures is an investor in Crypto.

Tags: ActivityBitcoinBRC20HourOrdinalsOvertakesprotocolTapTransaction

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