The BRC20 token, ORDI, witnessed an impressive 80% surge in its value after the announcement of its Binance listing. This digital asset, an Ordinal inscription, took the trading stage by storm, jumping from a modest $7 to an exhilarating peak of $14.02 before stabilizing at $13.13.
Binance Boost Ignites ORDI Trading Fever
Significantly, Binance’s decision to include ORDI in its trading array delivered a massive thrust to the token’s market presence. While ORDI had already secured a spot in other prominent exchanges, it was Binance’s endorsement that catalyzed its spike beyond the $11 threshold in a single morning.
With Binance’s global reach, ORDI tokens now enjoy a broadened investor base. These tokens, with a finite maximum supply mirroring Bitcoin’s 21 million cap, flaunted a robust market cap nearing $217 billion. Additionally, the daily ORDI transaction volume soared to $161 million. However, the current value remains 61% below its historic May high.
Moreover, in anticipation of heightened trading activity, Binance plans to feature ORDI as a borrowable asset. Consequently, traders will soon have the opportunity to leverage ORDI in margin trading against tether (USDT).
Leading ORDI Wallets
Further fueling the ORDI excitement, the revival of interest in Ordinal inscriptions is palpable. The token alone has amassed over 15.80416 BTC in miner fees from an impressive ledger of nearly 108,000 transactions. Additionally, the “16G1x” and “bc1qa” addresses have emerged as leading transaction nodes within the ORDI ecosystem, fortifying its market dynamics.
ORDI/USD 24-hour price chart (source: CoinGecko)
Hence, the inclusion of ORDI on Binance marks a significant chapter in the evolution of Ordinals. Not directly tied to the developers of Bitcoin Ordinals, this separate entity has nonetheless capitalized on the surge of BRC-20 tokens. Their collective market capitalization now stands proudly at $1.34 billion, showcasing the vibrant growth trajectory of BRC-20 tokens within the Bitcoin blockchain.
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