``` Bitcoin Ordinals ORDI token tops $1B market cap after 850% monthly gain - Coin Postman
Your reliable guide in the crypto world, providing comprehensive news and analysis on all things related to cryptocurrency.

Bitcoin Ordinals ORDI token tops $1B market cap after 850% monthly gain


The Bitcoin Ordinals-based ORDI token has change into the primary BRC-20 token to high a $1 billion market capitalization after staging triple-digit month-to-month and weekly proportion features.

ORDI notched a brand new all-time excessive of over $65 on Dec. 5, surging greater than 850% from round $6.80 on Nov. 5, according to CoinGecko knowledge. ORDI is up 216% within the final seven days.

The sudden ORDI worth uptick noticed it change into the primary BRC-20 token to achieve a $1 billion market cap on Dec. 5. On the time of writing, it has a worth of $1.3 billion.

ORDI has dropped barely from its excessive and is buying and selling below $61, which continues to be an over 2,000% enhance from its Sept. 11 all-time low of $2.86.

ORDI has gained over 850% up to now month. Supply: CoinGecko

Bitcoin Ordinals was first launched in January by Casey Rodarmor. The protocol allowed for inscribing content material onto the Bitcoin blockchain, together with nonfungible tokens (NFTs) and completely new tokens utilizing the BRC-20 token commonplace.

Associated: Riot Platforms buys $291M in BTC rigs as miners rake it in from Ordinals

Ordinals-inscribed belongings quickly gained in reputation with the broader blockchain neighborhood. After a short decline in inscription exercise in October, Binance’s decision to list ORDI on Nov. 7 appeared to reignite enthusiasm for the belongings.

Bitcoin Ordinals noticed a short decline in exercise in October however rapidly rebounded. Supply: Dune Analytics

In line with Dune Analytics knowledge, greater than 48 million Ordinals belongings have been inscribed because the protocol’s inception and have seen greater than $146.9 million in charges paid to the Bitcoin community.

On Nov. 20, transaction charges on the Bitcoin network flipped those of Ethereum amid a rush to inscribe new NFTs and BRC-20 tokens.

Moreover, on Nov. 17, the Ordinals-based challenge Taproot Wizards announced a $7.5 million seed spherical.

Journal: Breaking into Liberland — Dodging guards with inner-tubes, decoys and diplomats