The Rising Popularity of Rare Satoshis
“Rare Satoshis,” a newly emerging trend in the crypto space, might become the next big thing following the frenzy over BTC-20 ordinal inscriptions and meme coin minting. In the universe of Bitcoin and other cryptocurrencies, rarity and uniqueness are highly valued. Given that not everyone can afford a whole Bitcoin at its current price, special Satoshis could be the next item of interest for investors.
The Ordinal theory has come into play, providing a means to number and categorize Satoshis based on their rarity and uniqueness, thereby setting the stage for the hunt for these sought-after Satoshis.
The Influence of Centralized Exchanges on Rare Satoshis
On June 5, a prominent Ordinals influencer and developer known as “Leonidas” revealed that centralized exchanges control substantial amounts of Bitcoin, and consequently, these exchanges also possess rare Satoshis. Ord.io has disclosed that the Binance cold wallet address holds 1.28% of all BTC, translating to 24.8 trillion Satoshis. Among these, three are considered “rare,” and 12,394 are “uncommon.”
Furthermore, Bitcoin investor “Trevor.btc” advises to start hunting for Rare Satoshis now, anticipating that exchanges and miners will monopolize Rare Satoshis as they become more aware of their existence.
Unveiling the Classification of Special Satoshis
The Bitcoin Ordinals protocol, created by Casey Rodarmor, has proposed a method to identify these special Satoshis. This system leverages pre-programmed, natural events in Bitcoin’s evolution, where the “first” Satoshi of these events gets a name and rarity status. This classification includes categories like Common, Uncommon, Rare, Epic, Legendary, and Mythic, all combined into an index now known as the “Rodarmor Rarity Index.”
A block’s first Satoshi is categorized as “uncommon”, whereas the first Satoshi of every difficulty adjustment, roughly 2,016 blocks, is deemed “rare”. One in 1.26 trillion Satoshis is designated as rare. The infographic from OrdinalHub provides a vivid picture of these classifications.