Binance to List Ordinals (ORDI) with New Trading Pairs
Binance has announced its plans to list Ordinals (ORDI) on its platform. The new spot trading pairs, including ORDI/BTC, ORDI/USDT, and ORDI/TRY, will be available for trading starting at 12 p.m. UTC on November 7th. Withdrawals for ORDI will open at 6:30 a.m. UTC on November 8th. Binance also intends to add ORDI as a borrowable asset with the margin pair ORDI/USDT on Isolated Margin.
ORDI Price Surges Following Binance Listing Announcement
Following the news of Binance’s listing, the price of ORDI has surged by 48% in the past 24 hours, reaching $11.01. This marks a new high since May, according to CoinGecko.
Binance Pool’s Ordinals Inscription Service
In August, Binance Pool launched its Ordinals Inscription Service, which allows users to inscribe additional data onto the Bitcoin blockchain. The Ordinals protocol has gained traction this year as it enables the creation of BRC-20 tokens and NFTs on Bitcoin.
Risks Associated with ORDI Trading
Binance cautions that ORDI is a relatively new token with higher-than-normal risk and price volatility. To address this, the exchange will attach a “Seed Tag” to the ORDI token, representing projects with higher risks and volatility. Users will be required to pass quizzes every 90 days on the Binance Spot or Binance Margin platforms for seed tag tokens.
Hot Take: Binance Expands Offering with ORDI Listing
Binance continues to expand its offering by listing Ordinals (ORDI) on its platform. With the introduction of new trading pairs and the ability to borrow ORDI, Binance aims to attract more users to its exchange. However, it’s important for traders to be aware of the potential risks associated with ORDI due to its newness and higher volatility. As always, conducting thorough research and understanding the market conditions are crucial when engaging in cryptocurrency trading.
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