Binance Research has said that listing BRC-20 tokens on major exchanges has boosted the market.

In a report, Binance's research arm spotlighted the growth of BRC-20 tokens, saying this pointed to a "new era" for Bitcoin.

Despite skepticism surrounding Bitcoin Ordinal's position within the Bitcoin ecosystem, the study said that the inception of Bitcoin Ordinal inscriptions and BRC-20 tokens positively impacted Bitcoin's expansion and dominance in 2023.

The report also underlined that BRC-20's popularity was influenced by the creation of meme tokens like Pepe (PEPE) using the standard.