ORDI, the BRC20 token, experienced a remarkable 80% increase in its value following the announcement of its listing on Binance. This unique digital asset, known as an Ordinal inscription, made a significant impact on the trading scene, surging from a modest $7 to an exciting peak of $14.02 before stabilizing at $13.13.
Binance’s Inclusion Sparks ORDI Trading Frenzy
The decision by Binance to add ORDI to its list of tradable assets provided a substantial boost to the token’s market presence. While ORDI had already found its place on other prominent exchanges, it was Binance’s endorsement that propelled it beyond the $11 mark in a single morning.
With Binance’s extensive global reach, ORDI tokens have gained access to a broader investor base. These tokens, with a finite maximum supply akin to Bitcoin’s 21 million cap, flaunted an impressive market capitalization approaching $217 billion. Additionally, the daily trading volume for ORDI surged to $161 million. However, the current value still lags 61% behind its historical peak in May.
Furthermore, in anticipation of increased trading activity, Binance is planning to offer ORDI as a borrowable asset. This move will provide traders with the opportunity to use ORDI in margin trading against tether (USDT).
Leading ORDI Wallets
Adding to the excitement surrounding ORDI, there has been a notable resurgence of interest in Ordinal inscriptions. The token alone has collected over 15.80416 BTC in miner fees from an impressive tally of nearly 108,000 transactions. Notably, the addresses “16G1x” and “bc1qa” have emerged as prominent transaction nodes within the ORDI ecosystem, reinforcing its market dynamics.
The inclusion of ORDI on Binance represents a significant milestone in the evolution of Ordinals. Although not directly associated with the developers of Bitcoin Ordinals, this separate entity has capitalized on the surge of BRC-20 tokens. Collectively, the market capitalization of BRC-20 tokens now stands at a proud $1.34 billion, showcasing the robust growth trajectory within the Bitcoin blockchain ecosystem.
