OKX, one of the largest crypto exchanges in the world, has listed the innovative altcoin project that brings NFT features to the Bitcoin network. The price gained double digits within hours.
The troublesome OKX list soon turned into an altcoin rally
cryptocoin.com OKX’s Ordinals (ORDI) token listing move, which we quoted as, had a rough few hours. Some users have reported that they have encountered ridiculous transaction fees.
ORDI money investment transactions in the stock market started at 13:00 today. Trade transactions will be opened when sufficient liquidity and participation are provided. While users were complaining about gas fees, the official announcement said, “Say goodbye to high network fees. Now enjoy hassle-free withdrawals with lightning-fast transactions.”
Ordinals (ORDI) price makes expected move
The Ordinals project brings NFT feature to the Bitcoin network with the BRC-20 token standard. This new token has given the Bitcoin network a hard time in the past weeks. Transaction with the smallest Bitcoin unit, satoshi, paved the way for spam attack. According to reports, the developers are currently working on a spam blocking bot. It should be noted that this glitch also forced Binance to suspend BTC withdrawals at some point.
During the OKX chart on May 20, the price of Ordinals (ORDI) gained around 45%. The price jumped from the intraday low of $11.46 to $15.72, according to Coinecko data. For comparison; Meanwhile, Bitcoin and Ethereum were fluctuating below 1%.
Not just the OKX list, Ordinals make history with these features
Ordinals (ORDI) price is leading the market trends, gaining 25% since last week. The rally was linked to intense investor demand as well as the impact of the stock market listings. Bringing the NFT feature to the Bitcoin network, Ordinals has spawned countless meme token projects.
The data shows that 80% of the top 10 NFT sales in the previous week occurred in Bitcoin, an area dominated by networks often powered by smart contracts like Ethereum and Solana.
Meanwhile, Bitcoin has recorded the second-highest NFT sales volume for any blockchain in the past seven days, according to data from CryptoSlam. Transactions valued at more than $37 million eclipsed major projects, especially Solana and Polygon.
As noted, on May 10, volume surpassed $10 million, the highest recorded in a single day. Volume over the last seven days represented an increase of 8.15% over the previous week.
The primary driver of Bitcoin’s thriving NFT ecosystem was the Ordinals collection. Since its launch in January 2023, Bitcoin Ordinals has taken the crypto world by storm. With total sales exceeding $13 million in the last seven days, Ordinals is the second largest NFT collection, just after the premium Bored Ape Yacht Club (BAYC).
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