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Staking Mechanics Now Available on Bitcoin BRC-20: Is BTC Finally Ready to Rally?


• OKX’s latest proposal introduces a staking mechanism within the Bitcoin network specifically tailored for BRC-20 tokens or Bitcoin.
• Despite this, BTC refrains from making it to the spotlight and is still below $28,000.
• CryptoQuant’s data reveals that Bitcoin’s exchange reserve is decreasing, indicating less selling pressure.

OKX’s Proposal

OKX has announced a new proposal that takes BRC-20 a step ahead by expanding it into the BRC-30. This adds functionality for staking procedures like depositing, minting, and withdrawing while incorporating BRC-20 design principles. It also introduces a staking mechanism within the Bitcoin network tailored for BRC-20 tokens or Bitcoin and gives token holders and projects more design freedom as well as chances to interact with their communities.

BTC Price

At the time of writing, BTC was trading at $27,082.08 with a market capitalization of over $525 billion. Its price increased by more than 2% in the last 24 hours but its weighted sentiment plummeted.

CryptoQuant Data

CryptoQuant’s data revealed that Bitcoin’s exchange reserve was decreasing which indicated less selling pressure and an increase in its daily active addresses also showed signs of bullish behavior.


Though OKX’s proposal has given BRC-20 token holders more design freedom and interaction with their communities, BTC still remains sluggish under the $28,000 mark with few positive metrics backing it up. However, CryptoQuant’s data suggests that there are chances of BTC crossing the $28K mark soon if its exchange reserve keeps decreasing steadily and daily active addresses keep increasing positively