In this fast-paced crypto space, one digital asset has been making waves and getting the attention of various crypto enthusiasts. This token is called $OXBT. In this blog post, you’ll learn all you need to know about OXBT and how a group of Crypto University students reaped enormous profits from their investment in $OXBT. Let’s dive right in.
What is $OXBT?
$OXBT is a token created by Bitgod21, a free mint that launched on May 25. The launch is significant because it onboarded over five thousand new users to Bitcoin NFTs. In less than a week since its inception, $OXBT has already achieved an impressive market cap of over $34 million. As of June 2nd, 2023, the $OXBT price is at $0.1715 and has a circulating supply of 200,000,000 OXBT. Its 24-hour trading volume is also at $310,204.
Additionally, the token is currently ranked second in the BRC20 space and recently went live on Alex Lab, providing users with more opportunities for airdrops. The project burned 1.4% of its total supply, sending it to Satoshi Nakamoto’s wallet, which is inactive. The origin of the token can be traced back to a conversation about BTC D and BRC20s between Big God and Frank D Gods.
The ticker symbol, OXBT, represents Bitcoin transaction history, with “O” standing for ordinal and “XBT” representing the first perpetual futures from BitMEX, launched in 2016.
Keep in mind that BRC-20 tokens are a new type of asset, and the market for them is still developing. As a result, the prices of BRC-20 tokens like $OXBT can be volatile. While nothing has been explicitly announced about the token, holders are speculating different types of announcements down the line, including a possible airdrop, and partnership with Frank De-gods.
What is a BRC-20 token?
A BRC-20 token is a type of token that is based on the Bitcoin Request for Comment 20 (BRC-20) standard. It is similar to an ERC-20 token, which is created on the Ethereum blockchain.
BRC-20 tokens were introduced in March 2023 by an anonymous developer named Domo, as an experimental token standard that enables fungible tokens to be minted and traded via the Ordinals protocol on the Bitcoin blockchain.
Domo stated on the official website that BRC-20 tokens are merely an experimental standard created for amusement, showcasing the possibility of generating off-chain balance states with ordinal inscriptions. It is important to note that this standard should not be regarded as the definitive solution for fungibility on Bitcoin Ordinals.
Furthermore, Domo believes that there are likely superior design choices and optimization enhancements to be explored. And he encourages the Bitcoin community to experiment with various standard designs and optimization strategies until a consensus on best practices is achieved.
How our premium community members made huge profits with $OXBT
A few days ago, our team of crypto experts gave an alpha call on $OXBT to our premium membership community and many people that took action became at least several hundred dollars richer. Here are some comments from excited members of the community:
Image source: cryotouniversity
Apart from the fact that $OXBT is a Bitcoin-Ordinals project. It had no pre-sale, so the only way to obtain tokens was through minting. Minting was free, and you only needed to pay for gas fees on the Bitcoin Network, which ranged from nine to fourteen dollars. Whitelisting was necessary for successful minting.
Fortunately, all members of our Alpha group were whitelisted, we turned $14 in gas fees into $750 in profits. Those who submitted five wallets for whitelisting made up to $ 4,000. We had a mint party a few days ago to celebrate this win. We helped those who were new to minting, and now we are enjoying the benefits of free money.
Currently, the Ordinal NFT market is still relatively small compared to the Ethereum market. While predictions of a 10x increase in OXBT’s value are speculative, the upcoming launch of Binance’s BRC20 token marketplace could potentially drive the token’s value to $1. Minting these tokens early on offered a low-risk, high-reward opportunity, and those who took advantage have already seen significant returns.
If you missed out on $OXBT free mint, there are still potential opportunities available to profit from on the Ordinals NFT marketplace. Try to stay more active on Twitter and mint whatever makes sense to you. Don’t forget to create an Ordinals wallet for your interactions.
Most importantly, try to join the Crypto University membership. By subscribing to the crypto University membership for 50 to 100 dollars per month, you can potentially make back that amount in no time from the frequent alpha calls we give out. You’ll also get access to valuable whitelists for projects and gain insight into market trends. We have more whitelists and early alphas coming to our community
If you want to be a part of those growing their portfolios steadily in this bear market, join the Crypto University membership right away.