On November 7, 2023, cryptocurrency exchange Binance announced the listing of ORDI, the first token created under the BRC-20 fungible token standard on the Bitcoin blockchain. This announcement had a considerable impact on the price of ORDI, which exploded by 48% in the 24 hours following the announcement.
ORDI price reached a high of $11.00 on November 7, before falling back to $10.20 the next day. It has since reached a new high of $12.50 on November 8.
Binance's announcement was welcomed by investors who see ORDI as a token with the potential to revolutionize the cryptocurrency industry. ORDI allows users to write additional data to the Bitcoin blockchain, which could be used for a variety of applications, including digital rights management, product traceability, and the creation of new types of smart contracts.
Binance is the world's largest cryptocurrency exchange, with a market capitalization of over $100 billion. ORDI's listing on Binance gives it considerable exposure to a wide audience of investors.
It is still too early to say whether ORDI will continue its long-term growth. However, Binance's announcement has certainly put the token on the map and could pave the way for new growth opportunities for it.