The ORDI token, linked to the Bitcoin Ordinals protocol, made an impressive 50% price leap just 24 hours after its debut on Binance. Initially categorized as a “seed” project, its value climbed from $7 to $11, and trading volume spiked to nearly $100 million in a single day.
Binance designates the “seed” project tag to high-risk and potentially volatile tokens, and they issued a cautionary note, advising traders to thoroughly understand ORDI’s fundamentals and exercise proper risk management.
The Bitcoin Ordinals protocol enables users to encode digital art references into small Bitcoin transactions using the BRC-20 token standard introduced earlier this year. This unique feature has catalyzed a surge in digital art and meme tokens on Bitcoin, resulting in 38 million inscriptions and over $77 million in Bitcoin-based developer fees.
To accompany the ORDI listing, Binance introduced spot trading pairs ORDI/BTC, ORDI/USDT, and ORDI/TRY, alongside an ORDI Deposits and Withdrawals Activity. In this activity, the first 1,000 users depositing at least 72 ORDI tokens received a $50 USDT Trading Fee Rebate Voucher.
Binance also instituted mandatory quizzes for users interested in trading such tokens to ensure they comprehend the associated risks and unique characteristics.
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