Leading cryptocurrency exchange Binance announced today the official listing of ORDI, the native token of Bitcoin's Ordinals NFT protocol. The market reacted swiftly to this development, with ORDI's price surging from the $7 range to above $11 within hours, peaking at $11.53 - representing a 50% intraday gain at its highest point.
Trading Details and Market Response
Binance will offer the following spot trading pairs:
- ORDI/BTC
- ORDI/USDT
- ORDI/TRY
The exchange has already enabled deposit functionality for ORDI, with withdrawals scheduled to open tomorrow. Binance's isolated margin trading will also add ORDI support with an ORDI/USDT trading pair.
However, the price momentum saw some moderation after Binance delayed ORDI's trading debut from 6:00 PM to 8:00 PM (UTC+8). At press time, ORDI trades at $10.73, maintaining a 45% 24-hour gain with $110 million in daily trading volume.
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Risk Considerations and Seed Tag Implementation
Binance issued important risk warnings regarding ORDI:
- Classified as a newly listed token with potentially extreme volatility
- Carries higher trading risks compared to established assets
The exchange will apply a "Seed Tag" to ORDI, indicating:
- Higher-than-normal volatility potential
Special access requirements for traders:
- Must pass a qualifying quiz every 90 days
- Must accept updated terms of service
- Applies to both spot and margin trading platforms
Market Context and Trader Implications
The Ordinals protocol has gained significant attention in 2023 for enabling NFT-like functionality on the Bitcoin blockchain. ORDI's listing on the world's largest crypto exchange represents a major milestone for this emerging sector of Bitcoin development.
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Frequently Asked Questions
Q: When can I withdraw ORDI from Binance?
A: Withdrawals will open approximately 24 hours after trading begins, expected tomorrow.
Q: What does the Seed Tag mean for my trading?
A: The tag indicates higher-risk assets. You'll need to complete periodic quizzes to maintain trading access.
Q: Why did Binance delay the ORDI listing?
A: Exchange hasn't specified, but such delays sometimes occur for technical preparations or liquidity arrangements.
Q: How does ORDI differ from Bitcoin itself?
A: ORDI is a token native to the Ordinals protocol, which enables unique digital artifacts on Bitcoin's blockchain, whereas BTC is Bitcoin's base currency.
Q: Where can I learn more about Ordinals technology?
A: The official Ordinals documentation provides technical details about the protocol's architecture and capabilities.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. Always conduct your own research before making investment decisions.