OKX CEO Encouraged to List More Bitcoin Ordinals as BRC-20 Market Cap Surges
The CEO of OKX, a cryptocurrency exchange, reveals that he is receiving pressure to add more Bitcoin (BTC) ordinals to the platform. However, he refuses to do so as it could potentially harm the market. In a Twitter thread, Jay Hao explains that while listing all tokens would generate quick profits for the exchange, it goes against their long-term philosophy and commitment to building infrastructure and promoting transparency. He also emphasizes that spamming him with listing requests on Twitter will not be effective.
BTC Ordinals and OKX’s Listing Principles
BTC ordinals allow investors to create digital items on the Bitcoin blockchain, similar to non-fungible tokens (NFTs). Meanwhile, OKX follows five principles when deciding whether to list a crypto product: 1) blockchain technology and product-driven; 2) popularity in the community; 3) long-term dedication from project founders and investors; 4) legal and compliance review; and 5) independent research-based selection.
BRC-20 Market Cap Surge
The market cap of BRC-20 tokens has risen by 33.8% in the past 24 hours, reaching $2.2 billion according to CoinGecko data. Bitcoin is currently trading at $43,654.
Hot Take: OKX Prioritizes Long-Term Goals Over Quick Profits
The CEO of OKX reaffirms the exchange’s commitment to responsible growth and maintaining the integrity of the market. Despite receiving requests to list more Bitcoin ordinals, OKX prioritizes its long-term philosophies of building infrastructure, promoting transparency, and being technology-driven. By following strict listing principles and conducting independent research, OKX aims to ensure that the projects it lists align with its vision for the crypto industry. The surge in the market cap of BRC-20 tokens highlights the growing interest in Bitcoin ordinals and their potential impact on the market.
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