The BRC-20 ORDI token has marked a major milestone by surpassing a $1 billion market capitalization, establishing itself as the leading token in the thriving Ordinals ecosystem.
In a meteoric rise, ORDI has recorded a 600% rise in the last 30 days, reaching an all-time high of $52.87, demonstrating its ascending position in the cryptocurrency market.
Since its launch in January 2023, Ordinals has emerged as a vibrant ecosystem within the Bitcoin network.
It has witnessed steady growth in project and token creation, which has consistently driven transaction and user activity throughout the year.
The most notable thing about Bitcoin Ordinals is their similarity to NFTs on Ethereum, allowing arbitrary data to be inscribed into the smallest fraction of Bitcoin, known as satoshi.
This phenomenon has caused an avalanche of images and texts registered on the network, which underlines the creativity and versatility of this platform.
The Ordinals innovation has also given way to the BRC-20, represented by tokens like ORDI, which follow a standard that allows the creation of fungible tokens on the Bitcoin network, generating a significant increase in its value and demand.
ORDI is currently ranked #62 on the market capitalization list, with a current price of $49.47, having seen a 21% increase in the last twenty-four hours, according to data from CoinMarketCap.
Its bullish trajectory has been impressive, with almost vertical price movements over the last month, accompanied by trading volume that has reached $957 million in the last 24 hours.
In addition to Ordinals, several Memecoins have shown notable performance
Among the most important increases, we highlight PEPE, which has experienced an increase of 44.79%, reaching $0.000001601, while SHIB, the popular Shiba Inu coin, has risen 12.92%, reaching $0.000009372, both in the period of the last month.
However, standing out among them, ORDI has recorded an impressive growth of 215.79% in the last seven days, reaching $63.57, consolidating its position as one of the fastest growing currencies in this period.
This success for ORDI comes at a time when Bitcoin and Ethereum have also reached yearly highs, reflecting a booming cryptocurrency market heading into 2023.