Collection of tokens Ordinalswhich was built on the Bitcoin blockchain, has seen its listing on cryptocurrency exchanges Binance an increase of almost 41%, which made the price for 1 pc of ORDI climb above 10 dollars.
Binance expands offering with Ordinals tokens
According to an announcement by the Binance exchange on November 7, customers of the platform can now trade tokens Ordinals (ORDI) against Tether (USDT), Bitcoin (BTC) and Turkish lira.
Binance emphasizes that it did not charge developers any fees for listing the ORDI token, and withdrawals will be open from November 8.
As part of the initial incentives for trading this token, the first 1,000 users to deposit at least 72 ORDIs on the exchange received a 50 USDT bonus trading voucher from Binance.
“ORDI is a relatively new token that poses higher than normal risk and is likely to be subject to high price volatility,” the stock exchange warns.
It should be noted that the ORDI token named Ordinals, which the exchange listed, is not connected to the developers of Bitcoin Ordinals, the technology that we describe in the next lines.
“Ordi is nothing more than a memecoin built on BRC-20 tokens”pointed out in the context of this Wu Blockchain token.
What are Ordinals and BRC-20 tokens?
Bitcoin Ordinals is a number system that assigns a unique number to each individual satoshi, or 1/100 millionth of 1 BTC, allowing it to be tracked and transferred. Together with a process known as “inscriptions”, which adds another layer of data to each satoshi, this allows users to create unique digital assets on the Bitcoin blockchain, for example alternatives to the NFT tokens popularized by Ethereum in particular.
Another form of tokens built on BTC, the so-called BRC-20 tokenswhich was introduced in January by a Web3 developer Rodarmorhave also quickly gained popularity as one of the biggest technological advances of the 15-year-old blockchain.
The portal Cointelegraph pointed out that the total market capitalization of BRC-20 tokens currently reaches 1.34 billion USD.
Source: cointelegraph.com, Author