ORDI (ORDI) skyrocketed by 82% following the announcement of its listing on Binance, the leading cryptocurrency exchange, which mistakenly associated it with the Bitcoin Ordinals project.
Thank you for reading this post, don't forget to subscribe!In the last 24 hours, the token’s price has surged from $7.49 to $13.66 at the time of this writing. However, the ORDI price still remains significantly below its all-time peak of $29.16, which was reached on May 8, 2023.
Since hitting an all-time low on September 11, 2023, the token has already seen a remarkable increase of 381.95%.
Source: CoinMarketCap
The market capitalization of ORDI also rose by 22.5% to $277 million in the past 24 hours. As per this metric, the token now holds the 127th position in the CoinMarketCap rating.
Simultaneously, ORDI experienced an unexpected surge in trading volume. The trading volume surged by 320% to $506 million within 24 hours, propelling ORDI into the top 10 cryptocurrencies based on 24-hour trading volume.
Binance’s Listing of ORDI
Prior to this, Binance had unveiled the listing of ORDI on its platform, leading the cryptocurrency community to believe that the token was associated with the popular Ordinals project.
However, Casey Rodermore, the creator of Ordinals, clarified that the ORDI token has no connection to his project. He urged Binance representatives to eliminate all references to the asset from the listing announcement page.
I hope it gets better soon. ORDI is not related to the Ordinals Project, The Open Ordinals Institute, or The Ordicord.
Those links should be removed, and the token should not be labeled as “Ordinals”. The token’s name is ORDI.
If anyone has any contacts at Binance they can… https://t.co/vR9cneIPBk
– Casey (@rodarmor) 7 November 2023
The cryptocurrency exchange has reissued the ORDI data and eliminated all references to ordinals. According to the announcement, ORDI is the initial token created based on the BRC-20 standard on the Bitcoin network.
Ordinals can record data in Satoshi – the smallest unit of Bitcoin (BTC). Ordinals convert individual Satoshi into non-fungible tokens (NFTs) and thus create a Bitcoin NFT. Unlike traditional tokens based on Ethereum, the service stores user content on-chain.
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Source: crypto.news
