- The BRC-20 token ORDI built on Bitcoin’s Ordinals protocol has recently more than doubled in price, reaching a new all-time high as Bitcoin’s price also surges over $40,000.
- ORDI hit a record price of $4.403 on Sunday amid Bitcoin’s rise, settling around $4.150. It is up 28% in the last 24 hours and 114% over the past week.
- ORDI’s success shows the potential of Bitcoin-based tokens and the Ordinals protocol. Other BRC-20 tokens like DOMO and PEPE have also seen gains as adoption increases.
The BRC-20 token ORDI built on Bitcoin‘s Ordinals protocol has seen immense growth recently, more than doubling in price over the past week. As Bitcoin’s price continues to climb, ORDI reached a new all-time high over the weekend, showcasing the success of Ordinals and BRC-20 tokens.
Bitcoin’s Price Surges
Bitcoin crossed the $40,000 mark on Sunday, reaching its highest price in 20 months. Early Monday, it surpassed $42,000. At the time of writing, Bitcoin is trading around $41,700, up 20% over the past month.
ORDI Hits New Peak
Amid Bitcoin’s rise, ORDI hit a record price of $4.403 late Sunday night based on data from CoinGecko. It has since settled around $4.150, but is still up 28% in the last 24 hours and 114% over 7 days. In the past 30 days, ORDI has skyrocketed 549%.
Market Performance
With a market cap of $873 million, ORDI is now the 65th largest cryptocurrency. Around $859 million worth of ORDI was traded in the last 24 hours.
Other BRC-20 Tokens See Gains
ORDI is by far the biggest BRC-20 token, but others have also posted notable gains recently. DOMO is up nearly 1100% over the past week, while PEPE has jumped over 100%.
The BRC-20 Standard
The BRC-20 standard allows the creation of fungible tokens on Bitcoin’s Ordinals protocol. ORDI was the first such token, launched in March 2023 by creator Domo. BRC-20 has seen increased adoption, with top exchanges listing ORDI and other tokens.
Conclusion
The meteoric rise of ORDI demonstrates the potential of Bitcoin-based tokens and the Ordinals protocol. As more projects build on BRC-20, Bitcoin’s increasing price and prominence in crypto could continue lifting ORDI and its peers to new highs.
