Ordinals Becomes First Bitcoin BRC20 Token to Reach $1 Billion Market Value
The BRC20 token, Ordinals (ORDI), has achieved a market value exceeding $1 billion, making it the first Bitcoin BRC20 token to accomplish this milestone. In the past week, the price of ORDI has surged by 163%, reaching $53.
Surge in Value Following Binance Listing
Following its listing on Binance, a major cryptocurrency exchange, ORDI’s value skyrocketed by over 700%. This listing played a crucial role in boosting investor confidence and fueling the token’s rapid rise. In the last 24 hours, ORDI has continued its bullish trend with a 31.23% price increase. The token has established new highs and lows at $34.04 and $23.82, respectively, demonstrating its strong presence in the market.
Rise in Trading Volume and Market Capitalization
The trading volume for Ordinals has experienced a significant increase of 12.77%, reaching $1,268,824,095. This surge in trading activity suggests that the bullish sentiment surrounding the ORDI market is likely to continue. Additionally, the market capitalization of ORDI has witnessed a notable boost of 30.23%, now standing at $1,329,178,296.
Growing Investor Interest in BRC20 Tokens
The rapid ascent of Ordinals in the crypto market highlights the growing interest among investors in BRC20 tokens. This trend may pave the way for more BRC20 tokens to gain prominence in the cryptocurrency space.
ORDI Market Indicators
On the 4-hour price chart, bulls dominate the Ordinals market, as indicated by the Moving Average Convergence Divergence (MACD) indicator. The MACD is moving above its signal line, suggesting that the current bullish strength will persist in the market. The trajectory histogram also supports further upward movement, indicating that the bulls are in control of the ORDI market.
Bullish Trend Reinforced by RSI
The Relative Strength Index (RSI) reinforces the bullish trend in the ORDI market. It has moved above its Simple Moving Average (SMA), indicating the strength of the recent price surge. This suggests that the bullish momentum in ORDI will likely continue in the coming hours.
Hot Take: Ordinals Sets New Record as First Bitcoin BRC20 Token to Reach $1 Billion Market Value
Ordinals (ORDI) has made history by becoming the first Bitcoin BRC20 token to achieve a market value exceeding $1 billion. With a significant price increase of 163% in just one week, ORDI’s listing on Binance played a crucial role in driving its rapid rise. The surge in trading volume and market capitalization further solidify ORDI’s strong presence in the cryptocurrency market. This milestone highlights the growing interest in BRC20 tokens and sets a precedent for other tokens to gain prominence. The bullish indicators and strong market domination suggest that ORDI’s upward trajectory will likely continue in the near future.
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