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Binance to List Ordinals (ORDI) in ‘Seed Tag’ Section, Token up Nearly 49%

Jai Pratap
Last updated: | 1 min read
ordinals
Source: Pexels

Crypto exchange giant Binance announced that it will list Ordinals (ORDI) with new spot trading pairs available as of 10 a.m. UTC on November 7.

Upon listing, Binance will offer spot trading pairs, including ORDI/BTC, ORDI/USDT, and ORDI/TRY.

Withdrawals for ORDI are scheduled to open at 6:30 a.m. UTC on November 8. In addition, Binance plans to introduce ORDI as a new borrowable asset, paired with the margin pair ORDI/USDT on Isolated Margin.

Ordinals (ORDI) Surges Nearly 49%


ORDI experienced an impressive surge in price, with a 49% increase over the past 24 hours, reaching $11.06, as per Coingecko data.

This surge follows the announcement of ORDI’s listing on Binance and highlights the enthusiasm surrounding the digital asset.

ordinals-coingecko
Source: CoinGecko

Binance’s decision to list ORDI comes after Binance Pool introduced its Ordinals Inscription Service in August, simplifying the process for users to inscribe additional data onto the Bitcoin blockchain.

The Ordinals protocol, known for enabling the creation of BRC-20 tokens and NFTs on the Bitcoin network, has gained traction in the crypto sphere this year.

However, Binance cautions users about ORDI’s risk profile, considering it a relatively new token with the potential for higher-than-average price volatility.

To address this, the exchange will designate ORDI with a “Seed Tag,” representing projects that may exhibit increased volatility and risk compared to other offerings.

Users will be required to pass corresponding quizzes every 90 days on Binance’s Spot or Margin platforms when dealing with seed tag tokens, as outlined in the official statement.