For Bitcoin NFTs, the Atomicals protocol offers a transparent, safe history and ownership record.

cryptocurrency trading Through its Inscriptions Marketplace, Binance has incorporated Bitcoin ARC-20 atomic assets into its native Web3 wallet.

Binance stated on May 2 that "ARC-20 is a token standard that makes it possible to create fungible tokens that can be held and transferred on the Bitcoin blockchain." "Until June 2, 2024, we're offering zero-fee trading on ARC-20 tokens to celebrate this new integration."

bytes x 10,000),” Atomicals explained. “Any client, wallet, marketplace, game, and service can rapidly verify the Atomical by processing the history according to the very simple rules.”

Outside of NFTs, the current uses for Bitcoin Atomicals include web hosting, file storage, atomic swaps, real-world asset tokenization, decentralized social media and others.

Aside from Atomicals, Binance Wallet’s May 2 update also includes support for BEVM, a decentralized Ethereum Virtual Machine-compatible Bitcoin layer 2 based on Taproot that uses Bitcoin BTc $63,043 as gas fees to execute smart contracts.

The move follows the adoption of ARC-20 assets by other exchanges.

In February, crypto exchange Bitget announced the support of Bitcoin Atomicals through its native self-custody wallet. Similarly, crypto exchange OKX has an entire marketplace dedicated to Bitcoin Atomical assets.

Despite worries about becoming technologically obsolete with the rise of smart contract blockchains such as Ethereum and Solana, Bitcoin is rapidly closing the technological gap with the advent of innovations such as Ordinals, Inscriptions, Runes and Atomicals, all within the past year.

Last quarter, Orders Exchange completed integration with the Bitcoin Runes protocol to allow the issuance of fungible tokens on the native network and constructed a Bitcoin asset bridge with MicroVisionChain that enables BRC-20 token swaps.

Meanwhile, omnichain yield-generating protocol SolvBTC has accumulated a total value locked of $700 million from its yield-bearing Bitcoin minted on Arbitrum, Merlin and BNB Smart Chain. The protocol estimates the mechanism can generate annual returns of 5% to 10% on users’ BTC deposits.

The Atomicals protocol, which was created in January and is modelled after Ethereum's ERC-20 standard, enables the creation, transfer, and modification of nonfungible tokens (NFTs) on the Bitcoin blockchain.

Even 10,000 updates or handshakes for an Atomical will only yield roughly 2.5 MB of data (250 bytes).