Bitcoin and ORDI surge as crypto market shows bullish trend By

By admin Dec5,2023

© Reuters

Cryptocurrencies are experiencing a notable uptrend, with reaching new heights and a lesser-known token, ORDI, hitting an all-time high. ORDI, which operates on the Ordinals protocol, achieved a record value of $44.03 before experiencing a minor correction to approximately $41.50. This represents a substantial 28% daily increase and an impressive 114% rise within the past week.

Bitcoin, the leading cryptocurrency by market capitalization, has also shown significant gains. It soared above $42,000, following its climb over $40,000 on Sunday afternoon. This bullish momentum reflects a broader enthusiasm in the digital currency market.

ORDI’s remarkable performance can be traced back to its inception earlier this year by creator Domo (NASDAQ:). Since then, it has been embraced by major cryptocurrency exchanges such as Binance and OKX, which has contributed to its rising market valuation of $873 million. This growth places ORDI at the 65th position in cryptocurrency rankings according to CoinGecko.

The token’s surge is not an isolated event in the crypto space. Other BRC-20 tokens have also witnessed substantial gains over the past week. DOMO skyrocketed by 1,098%, while PEPE increased by 107%, showcasing the dynamic nature of this asset class.

The trading volumes of ORDI reflect the market’s bullish sentiment as well, with recent transactions amounting to approximately $859 million. Over the past month alone, ORDI’s value has escalated by an astonishing 549%, underscoring its rapid ascent in the cryptocurrency ecosystem.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

By admin

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