OKX Crypto Exchange Adds New Altcoin “Ordinals” for Trading, CEO Makes Statement
Ordinals is a special system that lets people create different things like text, pictures, sound, and videos on Bitcoin’s smallest part, called a satoshi. These creations can be turned into special digital items called NFTs and tokens on the Bitcoin network.
OKX has shared that starting from 20 May 2023 at 10:00 CEST, people will be able to deposit ORDI tokens. The trading of ORDI against USDT will start once enough ORDI tokens are available on the exchange. There are a total of 21 million ORDI tokens, which is the same as the maximum number of Bitcoins that can exist.
Chart showing the rise in ORDI price after OKX listing ( source: bitcoinsistemi)
The CEO of OKX, Star, shared a tweet announcing that ORDI will be listed on the OKX exchange. He mentioned that they will soon open deposits and withdrawals for ORDI. Additionally, he revealed that a BRC-20 token wallet and marketplace will be launched on the web3 wallet in the upcoming week. Star emphasized their ongoing development efforts in these areas.
OKX exchange will list $ORDI soon, deposit and withdraw will be opened at the same time. Brc-20 tokens wallet and market place will be launched in web3 wallet next week. Keep to build.https://t.co/nCUjFHqXqX
— Star (@star_okx) May 20, 2023
Ordinals is a type of meme token that belongs to the BRC-20 network. The BRC-20 network is a technology that works on top of Bitcoin and allows for smart contracts and decentralized applications. However, some Bitcoin supporters believe that these meme tokens cause congestion on the Bitcoin network and don’t have any real value.
Many BRC-20 tokens, including meme tokens, have been created and released in a short time. Similarly, in the Dogecoin network, there is a similar type of token called DRC-20, which has led to a high number of transactions on the DOGE network.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.