The crypto market is currently in a long-awaited bullish phase. Bitcoin is currently trading at $42,450 (approximately Rs 35 lakh), which is its highest price in the last nineteen months. Amidst the market excitement, a new crypto token has managed to grab massive attention. Based on the Bitcoin blockchain, this cryptocurrency is named ‘Ordi’ and like social media sensation Ori Avtramani, this new token has everyone wondering what it does.
Ordi Token, the first BRC-20 crypto token on the Bitcoin blockchain, recently reached its all-time high of $65.06 (approximately Rs 5,422). In the last seven days, the token saw a price increase of 148 percent. Data shows that over the past 30 days, the ORDI token has increased by a whopping 500 percent, fueled by Bitcoin’s bullish momentum. CoinGecko,
Ordi, which started as a technological experiment, uses the Ordinals protocol to mint data such as text, images, audio and video on Satoshi units of Bitcoin. In recent times, established crypto exchanges like Binance and OKEx have listed Ordy for exchange and purchase on their platforms. This gave impetus to its otherwise gradual development
As the price of Bitcoin increased, the value of ordinal-based NFTs also increased, causing the price of Ordi to rise again. After the token’s market cap crossed $1 billion (roughly Rs. 8,333 crores) on Tuesday, September 6, many members of the crypto community posted their opinions about the Ordi token.
Ordy is not a meme.
This is an informal way of betting on the Ordinals system.
It’s like there’s an http token with social consent.
– Kira Sama (@Kira_sama) 5 December 2023
– BTC_Barbie (@Btcbarbie01) 5 December 2023
The first ordi came into existence after an anonymous user marked it with the address bc1p…gy06 on March 8, 2023. medium blog Claimed.
Ordy has a pre-determined circulating supply that is limited to 21 million, which brings up the rarity quotient in this altcoin. Due to the ever-changing landscape of the crypto market, the investor community keeps an eye on these growing new tokens and posts alerts if anything suspicious comes up.
(TagstoTranslate)Bitcoin-Based Ordi Token Taking the Crypto Market by Storm, Everything to Know Cryptocurrency