Sirwin
Sirwin

Would you fancy BRC-20 tokens on MOSDEX?

By Dzoelx | Cryptocurrency Scripts | 29 May 2023


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If the smart contract token technology is one of the advantages of the Ethereum blockchain over the Bitcoin blockchain, then one can say that the Bitcoin blockchain is edging close to the technological pace set by the fast-developing Ethereum network. This is thanks to ordinals and BRC-20 protocols. But it is still too early to make these claims. Nevertheless, the BRC-20 ecosystem is swelling and the market is taking off seriously.

BRC-20 tokens have already been listed on a number of centralized exchanges, some of these exchanges are integrated into the MOSDEX arbitrage protocol. BRC-20 tokens are quite exciting, but this isn’t just why they could be a good inclusion in the scope of the arbitrage bot’s trading.

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A good reason is BRC-20 tokens’ high volatility and differential trading activity across the different centralized and decentralized exchanges where they trade. The arbitrage bot could make good use of this phenomenon. As an investor in the arbitrage bot, would you love to see your favorite arbitrage trading protocol dabble into trading the highly volatile BRC-20 tokens?

Every user certainly has their personal answers backed with their own reasons, but here are a few things to consider in case wishes become horses and everyone gets to ride. Get a MOSDEX account today and join the conversation

Considering the Bot’s profitability. A rough look at the average profitability in the past few months suggests that the bot’s profitability has been relatively consistent and stable. This is majorly due to the trading and financial management technologies that power the protocol. In addition to this, the general market’s stagnancy has also contributed.

But an equally important reason is the stability of the assets traded by the Bot. Trading BRC-20 tokens at this stage of their development is a double-edged sword. While it has the capacity to boost the bot’s trade success and profitability, it is recommended that investors also understand how this could go the other way around as well.

Again, BRC-20 tokens aren’t quite exposed on centralized exchanges and trade on provisional and specialized decentralized exchanges built on the Bitcoin blockchain. The Bot will need to gather enough data to make trading decisions, BRC-20 tokens will require a few more trading and active weeks to build strong data that can be fetched and utilized by the bot.

But who would say no to a little risk? BRC-20 tokens are quite exciting and come with a little buzz. The Bot is designed to extract financial value as much as possible and is equipped with some very specialized trading algorithms to take charge of the market. Personally, I’d like this to come in the next few weeks and not right away. But the project team has all the decisions to make.

By the way, if this is your first time hearing about MOSDEX, Click here to get a 30 USDT welcome bonus and explore a way of earning passive income through arbitrage trading. MOSDEX comes with quite a lot of packages and continues to release regular updates about its facilities. However, always do well to carry out your own research before investing in any cryptocurrency project.

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Dzoelx
Dzoelx

Drinking coffee and writing about cryptocurrency.


Cryptocurrency Scripts
Cryptocurrency Scripts

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