ORDI Token BRC20 Skyrockets Over 40% as Binance Announces Listing.
The announcement from Binance, a leading global crypto exchange, to bring ORDI to its platform provided a significant boost to the token. ORDI is not new to the spotlight, because it has previously been implemented by other large exchanges such as Okx. However, it was a nod from Binance that saw ORDI surge past the $11 mark in a flurry of morning Eastern Time trading.
The ORDI token, essentially the inscription Ordinal, is a tradable and fungible coin created on the Bitcoin blockchain and adheres to the “BRC20” token standard. Among the plethora of BRC20 tokens introduced recently, ordinal (ORDI) stands out as the token with the largest market capitalization.
Binance's statement revealed: “Binance will list the ordinal (ORDI) and open trading for this spot trading pair on 2023-11-07 10:00 (UTC).”
Following the Binance effect, the BRC20 token experienced a staggering 40% jump in value compared to the greenback, and at a glance generated a market capitalization of close to $217 billion. Similar to bitcoin's scarcity, ORDI's maximum supply is limited to 21 million coins, with daily trading volume reaching $161 million for ORDI trades. Despite this impressive surge, ORDI's value is still 61% shy of its historic peak on May 8, 2023 of $28.52.
In a strategic move, Binance further revealed plans to integrate ORDI as a “borrowable asset,” setting the stage for its debut as a margin listing within two days, paired with tether ( USDT ) for margin trading. ORDI's launch comes amid a resurgence of interest in the Ordinal inscription, with the token itself generating over 15,80416 BTC in miner fees ($549,471) from nearly 108,000 transactions.
