ORDI Tokens Surge 40.8% on Binance Listing”

Ordinals, a collection of BRC-20 tokens minted on the Bitcoin blockchain, have increased in value by 40.8% to $10.19 in the twenty-four hours since their listing on the cryptocurrency exchange Binance.

Binance announced on November 7 that Ordinals (ORDI) are now tradable in conjunction with Tether, Bitcoin, and the Turkish lira.

Binance asserts that no listing fees were assessed to developers for the ORDI token, and withdrawals will commence on November 8.

“ORDI is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility.”

The first 1,000 users to deposit a minimum of 72 ORDI into the exchange were awarded a 50 USDT trading rebate voucher as an initial incentive.

Bitcoin Ordinals is a numbering system that enables the monitoring and transfer of Bitcoin by assigning a unique number to each satoshi, or 1/100 million of a bitcoin.

In conjunction with the inscription procedure, which augments each satoshi with an additional layer of data, this enables users to create one-of-a-kind digital assets on the Bitcoin blockchain.

ORDI, the present token listed on Binance, is not affiliated with the Bitcoin Ordinals developers.

Since their inception in January by Web3 developer Rodarmor, BRC-20 tokens have become one of the most significant technological developments in a blockchain that is 15 years old.

Since June, providers of self-custody wallets, including BitKeep (now Bitget Wallet), have permitted deposits and withdrawals of BRC-20 tokens.

At present, BRC-20 tokens have a market capitalization of $1.34 billion.