The Native Token of the Ordinals Protocol, ORDI, Emerges as Top Gainer with High Volatility Expected
The native token of the Ordinals protocol, ORDI, has experienced significant gains, making it the top gainer among the leading 100 cryptocurrencies. In the past 24 hours, ORDI has surged by 14% and is currently trading at $70.3. This surge in price has also boosted the asset’s market cap to $1.47 billion, positioning it as the 53rd-largest digital currency.
According to data from Santiment, social media discussions about ORDI have decreased by 6% in the past 24 hours. Additionally, ORDI’s Relative Strength Index (RSI) currently stands at 67, a significant increase from its previous mark of 35 on Feb. 4.
The RSI suggests that there may be whale manipulation occurring with ORDI and anticipates high volatility until further price movements are observed. To remain in the bullish zone, ORDI’s RSI should stay below the 50 mark.
ORDI’s price surge coincides with Bitcoin (BTC) surpassing the $50,000 milestone. Furthermore, open interest in ORDI perpetual contracts has increased by 22% over the past day, rising from $116.8 million to $142.5 million. The ORDI Binance funding rate has also seen an increase from 0.01% to 0.02%, indicating a rise in long-position futures contracts and a bet on further price growth.
By
By
By
By