The past 24 hours have witnessed a remarkable 40.8% surge in the value of Ordinals, a BRC-20 token collection that operates on the Bitcoin blockchain. Following its listing on the prominent cryptocurrency exchange Binance, the token is now valued at $10.19.
Binance announced this exciting development on November 7th, stating that users can engage in Ordinals (ORDI) trading against Tether, Bitcoin, and the Turkish lira. A notable aspect of this listing is that Binance did not impose any listing fees on the ORDI token. Additionally, the exchange is set to enable withdrawals for ORDI starting on November 8. To encourage early participation, the first 1,000 users who deposited a minimum of 72 ORDI tokens on the exchange received a generous 50 USDT trading rebate voucher.
It’s important to note that ORDI is a relatively new token, which inherently carries a higher degree of risk and may experience significant price volatility, as mentioned in the Binance announcement.
![Binance Listing Fuels Bitcoin Ordinals Comeback image 37](https://i0.wp.com/nosisnews.com/wp-content/uploads/2023/11/image-37.png?resize=1024%2C401&ssl=1)
![Binance Listing Fuels Bitcoin Ordinals Comeback image 37](https://i0.wp.com/nosisnews.com/wp-content/uploads/2023/11/image-37.png?resize=1024%2C401&ssl=1)
The foundation of this surge in ORDI’s value lies in its association with Bitcoin Ordinals, a unique numbering system implemented on the Bitcoin blockchain. This system assigns a distinctive number to each satoshi, which represents 1/100 million of a Bitcoin. This innovative approach facilitates the tracking and transfer of these minute units. When combined with the inscription process, which augments each satoshi with an additional layer of data, this system empowers users to create distinctive digital assets directly on the Bitcoin blockchain.
It’s important to clarify that the current ORDI token listed on Binance is not directly affiliated with the developers of Bitcoin Ordinals.
The concept of BRC-20 tokens, which were conceived by Web3 developer Rodarmor in January, has gained significant popularity. These tokens represent one of the most substantial technological advancements within the blockchain realm over the past 15 years. This progress is further exemplified by self-custody wallet providers like BitKeep (now Bitget Wallet), which began enabling BRC-20 token deposits and withdrawals as early as June. The collective market capitalization of BRC-20 tokens has now reached an impressive $1.34 billion.
The surge in ORDI’s value and its integration into a major cryptocurrency exchange underscore the growing significance and potential of blockchain technology and token ecosystems. As developments in this space continue to unfold, it’s clear that the adoption of innovative token systems like BRC-20 is on an upward trajectory.
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