After being listed on Binance, Ordinals (ORDI) – the BRC-20 token minted on the Bitcoin blockchain, has had impressive growth. At the time of writing, this token is priced at $13.71, up 21.91% over the last 24 hours. RDI’s market cap also surged to $287.8 million.
According to Binance’s Nov 7 announcement, users can now trade Ordinals (ORDI) against Tether (USDT), Bitcoin (BTC), and the Turkish Lira (TRY). Binance claims that the exchange did not charge developers any listing fees for the ORDI token and that withdrawals will open on Nov 8.
As part of initial incentives, the first 1,000 users who deposit at least 72 ORDI to the exchange received a 50 USDT trading rebate voucher. However, since ORDI is a new token, its risk and price fluctuations are quite high.
At the end of August, Binance added support for the Ordinals service. The new feature allows users of the platform’s mining pool to input additional data into individual satoshis, including text, images, and videos. Using Ordinals, users can record data in the smallest unit of Bitcoin – Satoshi. Ordinals converts individual Satoshis to NFTs and thus creates Bitcoin NFTs.
Invented by Web3 developer Rodarmor in January, the BRC-20 token quickly attracted attention and is considered one of the biggest technological advancements of the 15-year-old blockchain. Self-custodial wallet providers, such as BitKeep (now Bitget Wallet), have enabled deposits and withdrawals of BRC-20 tokens since June. The total market capitalization of BRC-20 tokens is currently $1.34 billion.