Cryptocurrency exchange Binance has expanded its offerings by adding the Ordinals (ORDI) token to its trading platform. This new listing provides traders with additional spot trading pairs: ORDI/BTC, ORDI/USDT, and ORDI/TRY. Trading for these pairs began on November 7 at 10:00 UTC, with immediate deposits enabled to facilitate robust trading activity. Withdrawals are scheduled to commence on November 8 at 06:30 UTC.
To boost participation, Binance introduced an incentive program rewarding the first 1,000 users who deposit at least 72 ORDI with exclusive benefits. This strategy has already driven significant price appreciation for ORDI, capturing the attention of crypto investors and contributing to its rising valuation.
Market Response and Trading Volume Spike
Following the announcement, ORDI's price experienced a sharp upward trajectory. Data from CoinMarketCap indicates an 80% surge post-listing, elevating the token from a modestly valued digital asset to a peak of $14.02 before stabilizing at $13.13. As of this writing, ORDI trades at $13.80.
Weekly and monthly charts highlight the token's impressive growth, with increases of 121% and 215%, respectively. Starting from a base price near $3, this rally underscores the market's optimism about Binance's decision.
Trading volume for ORDI has mirrored this enthusiasm, exceeding $100 million—a 171% jump post-announcement. ORDI's current market capitalization stands at $289 million, ranking it 122nd in the crypto sector.
Binance has also hinted at future plans to integrate ORDI as a borrowable asset, potentially enabling its use in Tether (USDT) margin trading. Such developments could further invigorate trading activity around ORDI.
The growing interest in Ordinals inscriptions is evident, with ORDI-related miner fees surpassing 15.80416 BTC. This activity spans nearly 108,000 transactions, emphasizing heightened engagement. Notably, addresses like "16G1x" and "bc1qa" have emerged as hotspots, reinforcing ORDI's market presence.
The Rise of BRC-20 Tokens
ORDI's listing on Binance marks a pivotal moment in the evolution of Ordinals. While independent of Bitcoin Ordinals developers, this newcomer rides the wave of BRC-20 tokens, which collectively boast a $1.34 billion market cap. This trend signals dynamic expansion within the Bitcoin blockchain ecosystem.
👉 Explore more about BRC-20 tokens
Key Takeaways
- Binance listing catalyzed ORDI's 40%+ price surge.
- Trading volume spiked 171%, reflecting heightened market activity.
- Future integration as a borrowable asset could amplify ORDI's utility.
FAQs
Q: What caused ORDI’s recent price surge?
A: Binance’s listing announcement and its incentive program drove immediate investor interest, resulting in an 80% price increase.
Q: When will ORDI withdrawals be available?
A: Withdrawals begin on November 8 at 06:30 UTC.
Q: How does ORDI fit into the BRC-20 ecosystem?
A: ORDI leverages the growing BRC-20 token standard, contributing to its $1.34 billion total market cap.