【速報】Bitcoin Ordinals-Based ORDI Token Surpasses $1 Billion Market Cap

ORDI Token Achieves Milestone

Bitcoin Ordinals-based ORDI token has become the first BRC-20 token to top a $1 billion market capitalization after staging triple-digit monthly and weekly percentage gains. ORDI notched a new all-time high of over $65 on Dec. 5, surging more than 850% from around $6.80 on Nov. 5, per CoinGecko data. ORDI is up 216% in the last seven days.

ORDI's Market Performance

The sudden ORDI price uptick saw it become the first BRC-20 token to reach a $1 billion market cap on Dec. 5, it currently commands a value of $1.3 billion. ORDI has dropped slightly from its high and is trading for under $61, which is still an over 2,000% increase from its Sept. 11 all-time low of $2.86. ORDI has gained over 850% in the past month. Source: CoinGecko

Bitcoin Ordinals' Dominance

Bitcoin Ordinals was first launched in January by Casey Rodarmor, allowing for inscribing content onto the Bitcoin blockchain, including NFTs and new tokens using the BRC-20 token standard. After a brief and sudden decline in inscription activity in October, Binance’s decision to list ORDI on Nov. 7 reignited enthusiasm for the assets, marking a swift rebound.

Growing Adoption and Integration

More than 48 million Ordinals assets have been inscribed since the protocol’s inception, involving more than $146.9 million in fees paid to the Bitcoin network. On Nov. 20, transaction fees on the Bitcoin network surpassed those of Ethereum amid a rush to inscribe new NFTs and BRC-20 tokens. Additionally, on Nov. 17, the Ordinals-based project Taproot Wizards announced a $7.5 million seed round.