The cryptocurrency space is abuzz as Binance, the world’s leading crypto exchange, announces the inclusion of Ordinals (ORDI) in its trading platform, sparking a significant price surge for the digital asset.
Binance Welcomes Ordinals
Binance has officially revealed plans to integrate Ordinals, offering new spot trading pairs for the token. Starting from 10 a.m. UTC on November 7, traders will have access to ORDI/BTC, ORDI/USDT, and ORDI/TRY pairs, with the added convenience of ORDI withdrawals beginning at 6:30 a.m. UTC the following day.
A Surge in Ordinals’ Value
Following the announcement from Binance, Ordinals experienced an impressive 48% increase in value, reaching a new peak price of $11.01. This leap marks the highest point for ORDI since May, as per the data tracked by CoinGecko.
Innovation Meets Accessibility
The listing comes on the heels of Binance Pool’s initiative to streamline the process of inscribing data onto the Bitcoin blockchain through its Ordinals Inscription Service. The Ordinals protocol, which has been gaining momentum since earlier this year, allows for the creation of BRC-20 tokens and NFTs directly on Bitcoin’s network.
Risk Advisory for Traders
Binance has issued a cautionary note, highlighting that ORDI, as a newer token, may exhibit more pronounced price volatility. To address this, the exchange will implement a “Seed Tag” for ORDI to inform users of its potentially higher risk and volatility. Traders interested in ORDI will need to complete quizzes every 90 days to stay updated on the nuances of trading this asset on Binance’s platforms.
