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In the past week, the BRC-20-based coin “ORDI” based on Bitcoin has an unexpected rise. On March 5, Ordi once penetrated 87 US dollars to reach a record high.Maintain at the range of 80 US dollars.
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In the context of the current encrypted bull market, why can Ordi stand out in the field of BRC-20?Koala found some reasons.
Three reasons for ORDI to lend the bull market
Ordi is the first BRC-20 token issued on the Bitcoin blockchain with a total supply of 21,000,000. The original intention of ORDI is only an experiment.ERC20 homogeneous tokens issued.
Frankly speaking, many users of the encrypted community will turn ORDI, a Bitcoin -based coin that is mistaken for the original currency of the Ordinals protocol. Although this misunderstanding is quickly corrected, the price of Ordi’s price for a long time is for a long time.There is no big improvement.You will find that ORDI has increased since the beginning of November, and this time point is very suitable for the time point of the Bitcoin cycle price rebound and recovery in the next round of bull market.In recent days, as the price of Bitcoin exceeded $ 69,000, the price of ORDI has risen surprisingly.
1. The hotness of the BRC-20 inscription section.Ordi is the representative tokens of the BRC-20 inscription sector, which has recently received great attention from the market.After the ORDI tokens launched on November 7, Binance, the world’s largest cryptocurrency trading platform, set off a wave of BRC-20 tokens.This has made multiple or even hundreds of times more than hundreds or even hundreds of times of SAT, RATS, TURT, etc., has become the most noticeable market track in the near future.
2. Ordi’s own value.Ordi is the native currency of the Ordinals protocol, which allows users to engrave various digital assets on the Bitcoin blockchain, including images, video, audio, text, etc.This brings new possibilities to the Bitcoin ecosystem, and also gives Ordi unique value.
3. Promotion of market emotions.In the context of the overall goodness of the cryptocurrency market, investors’ enthusiasm for emerging tokens such as Ordi has also risen.This further promoted the rise in Ordi’s price.
The exchange silently supports ORDI behind the exchange?
Earlier, there were news disclosure that the top 30 holders of ORDI held a total of 16.78 million ORDI (about 950 million US dollars), accounting for 79.94%of the total supply. According to analysis of the top ten ORDI addresses, there were five of them.The addresses belong to exchanges such as Binance, OKX, Gate, etc., which means that the focus of the current ORDI market may have changed. From “casting”, gradually shifting to cryptocurrency exchanges, because the Ordi token “chips” are basically basically at presentIt has been concentrated in the exchange.
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Relatively speaking, the exchange giants have actually started to plan in advance for the ORID market in advance. For example, OKX announced the opening of ORDI recharge as early as May this year.About one month from ORDI.
It is undeniable that the sharp rise in the price of ORDI has aroused great attention in the encrypted community, and at the same time, many people have begun to understand the Bitcoin ecosystem.Not only that, ORDI also promoted the development of the inscription track, and may even promote the development of the second -layer network of the Bitcoin blockchain. Users create a chain trading channel at the Layer 2 execution level.Type -scalability and throughput reduces transaction costs while reducing transaction costs.
Summarize
It can be said that the emergence of ORDI can increase the value of Bitcoin, so that Bitcoin can not only be used as a value storage, promote the possibility of the Bitcoin ecosystem, bring new vitality to the Bitcoin ecosystem, promote the Bitcoin ecosystemFurther development.
Of course, for any emerging project or agreement, there is uncertainty in sustainability and market recognition. Under the market background where the cryptocurrency market rises rapidly, REDI will reach a record high in history.Construction is also greatly helpful for a wider encrypted ecology!But in the end, after the price of ORDI exceeded $ 80, the market is still looking forward to the future development of the token.Some analysts believe that ORDI is expected to become the leader of the next round of BRC-20 influx.However, investors also need to pay attention to the risks of the cryptocurrency market, and investment needs to be cautious.
