The BRC-20 token, Ordinals (ORDI) has seen a significant surge in its price following the announcement of listing on the Binance exchange. The exchange listed ORDI pairs with USDT, BTC, and the Turkish Lira.
Quick Take:
- Binance lists Ordinals (ORDI), giving incentives to the first 1,000 users depositing 72 ORDI tokens.
- The ORDI token reaches a high of over $14 before settling around the $13.40 mark.
- Users confuse ORDI with Bitcoin Ordinals, which reached its highest mark since May.
Every emerging token gets a major boost if it is listed on a renowned cryptocurrency exchange, such as Binance. The same happened with Ordinals (ORDI), as Binance’s listing pushed the coin’s trading price from $7 to over $14 within a day. The token is already listed on several other prominent exchanges.
ORDI is now available for trading at Binance, as the exchange’s large investor base continues to show interest in the token. The token is already at #123 on the list of top cryptocurrencies.
At the time of writing, Ordinals (ORDI) is trading at $13.40 with a market cap of over $281 million. The 24-hour trading volume of the coin is above $613 million after an increase of 2,334% in the last day.
As per details, Binance also plans to offer ORDI as a borrowable asset. Investors and traders will be able to leverage ORDI in margin trading against USDT. The exchange is featuring the token in these options amid the surge in its trading activity.
Moreover, Binance incentivized the first 1,000 users who deposited 72 ORDI tokens with a 50 USDT trading rebate voucher. However, the exchange still warned users to remain cautious of the high price volatility.
The exchange added,
“ORDI is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility. Please ensure that you exercise sufficient risk management, have done your own research in regards to ORDI’s fundamentals, and fully understand the project before opting to trade the token.”
Bitcoin Ordinals Trading Hits 6-Month High
The transaction volume of Bitcoin Ordinals saw a rise to its highest mark since May, reaching $14.7 million after the Binance listing of ORDI on Tuesday. These Bitcoin Ordinals are a numeric system as they assign a unique number to each Satoshi or 1/100 million of a Bitcoin.
It is to be noted that the ORDI token is not linked with the developers of Bitcoin Ordinals, and both are not associated with each other in any way. However, Bitcoin Ordinals saw hype on the token’s listing. An analyst noted that Binance’s support to ORDI sent everything flying that is related to Ordinals.
Nonetheless, the increase in the transaction volume of Bitcoin Ordinals is a sigh of relief, as the underperforming NFT market has regained some composure as well. Many NFT collections and platforms are suffering from a lack of consumer interest. With recent developments, the NFT trading volume hit a three-month high on Monday.
