Notable news in the past 24 hours (May 8) BTC: 28,270 USD | ETH: 1,860 USD | Total market capitalization: 1.161 billion USD 1️⃣ BRC-20 token on Bitcoin surpasses $ 550 million in market capitalization: BRC-20 or Bitcoin Request for Comment is a new token standard being tested by the Ordinals protocol on the Bitcoin network. This standard allows users to deploy, mint, and transfer P2P tokens. However, the rapid increase in transactions puts great pressure on the Bitcoin network. 2️⃣ BTC continued to correct to $28,100 after closing the weekly candle, Binance continuously announced to close the BTC withdrawal gate due to a large amount of pending transactions. 3️⃣ US leads the Memecoin craze in early 2023: capturing 23.6% interest so far with over 2 million views of top coin meme pages. 4️⃣ Kazakhstan collects $7 million in taxes from crypto miners: Kazakhstan's Finance Ministry has received 3.07 billion Tenge (nearly $6.9 million) in taxes from crypto mining entities numbers in 2022.