Bitcoin Ordinals Token Surges 40.8% After Listing on Binance
A BRC-20 token collection known as Ordinals has seen a significant surge of 40.8% in the past 24 hours, reaching $10.19 following its listing on the popular crypto exchange Binance.
According to Binance’s announcement on Nov. 7, users can now trade Ordinals (ORDI) against Tether (USDT), Bitcoin (BTC), and the Turkish lira. The exchange stated that it did not charge any listing fees for the ORDI token, and withdrawals are set to open on Nov. 8. Additionally, as an initial incentive, the first 1,000 users depositing at least 72 ORDI received a 50 USDT trading rebate voucher.
“ORDI is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility.”
Bitcoin Ordinals is a numbering system that assigns a unique number to each individual satoshi, allowing for tracking and transfer. BRC-20 tokens have gained popularity as a significant technological advancement in blockchain, with self-custody wallet providers enabling token deposits and withdrawals since June. The total market cap of BRC-20 tokens currently stands at $1.34 billion.
Hot Take: The Rise of Bitcoin Ordinals Token
The surge in value of the Bitcoin Ordinals token after its listing on Binance reflects the growing interest in BRC-20 tokens and their potential impact on blockchain technology. With the ability to assign unique numbers to individual satoshis and mint digital assets on the Bitcoin blockchain, these tokens are paving the way for new opportunities in the crypto space. However, it’s important to recognize the higher risk and potential price volatility associated with relatively new tokens like ORDI.
By
By
By
By
By
By