Table of Contents
Overview of ORDI and Ordinals
What is ORDI?
ORDI is a meme token issued based on the BRC-20 standard, built on the Bitcoin Blockchain through the Ordinals protocol. ORDI does not have any specific functions or applications within the blockchain system. Its value mainly relies on the community’s interest, as it is the first token to be created following the BRC-20 standard.
What is ORDI?
ORDI was officially listed on Binance on November 7, 2023.
Related: What is BRC-20? Understanding the Token Standard on Bitcoin
What is Bitcoin Ordinals?
What is Bitcoin Ordinals?
Bitcoin Ordinals is a protocol that assigns numbers and serializes individual satoshis (the smallest unit of Bitcoin), allowing them to be tracked in transactions. Ordinals also introduces the concept of Inscription, which lets users attach additional data to satoshis, transforming them into unique digital assets.
Moreover, Ordinals enables users to embed different types of data into the Bitcoin network in the form of NFTs, including text, images, audio, and video. These NFTs can be traded and transferred on the Bitcoin network. However, unlike Ethereum’s ERC-20, BRC-20 tokens like ORDI do not interact with smart contracts.
Highlights of Ordinals
Dedicated Marketplace: Ordinals offers a decentralized marketplace where users can buy, sell, and trade tokens. Its user-friendly interface helps collectors navigate easily and maximize the value of their collections.
Tokenization: Ordinals allows assets to be tokenized and integrated into the Bitcoin network. These serialized satoshis add collectible and tradable value, introducing a new layer of value for Bitcoin users.
Security: The Ordinals network provides a high level of security, consistent with current industry standards in Crypto. The network is fully decentralized and operates autonomously through code, eliminating human error risks.
NFTs and non-NFTs: One intriguing aspect of Ordinals is that they are not officially recognized by the Bitcoin protocol, creating new opportunities for those willing to explore them.
Team
Team
Domo, the pioneer behind the BRC-20 token standard, launched ORDI as an experiment in March 2023. ORDI was the first BRC-20 token, marking a significant milestone in the crypto market. After ORDI’s release, supporting tools such as Ordinals Wallet and Unisat Wallet were quickly developed.
Other BRC-20 tokens like MOON and TRAC soon followed, showing impressive growth.
Since ORDI was created through Bitcoin Ordinals, some community members and even Binance mistakenly thought ORDI was the native token of the Ordinals protocol. Casey Rodarmor, the creator of Ordinals, clarified this misunderstanding, pointing out that Binance had incorrectly associated ORDI with the official Ordinals protocol.
Projects Similar to ORDI
ORDI is a memecoin on BRC-20, similar to other tokens like SATS and RATS.
5 Key Facts About ORDI Token
ORDI Token
Basic Information about ORDI Token
Token Name: ORDI
Token Code: ORDI
Blockchain: BRC-20
Smart Contract: b61b0172d95e266c18aea0c624db987e971a5d6d4ebc2aaed85da4642d635735i0
Listing Date: May 8, 2023
Price: $33 (October 2, 2024)
Market Cap: 700M
Fully Diluted Market Cap: 700M
Total Supply: 21,000,000
Max Supply: 21,000,000
Circulating Supply: 21,000,000
ORDI Token Allocation
All ORDI tokens were distributed to the community through the Inscription process.
ORDI Token Release Schedule
Currently, all ORDI tokens are fully unlocked.
What is ORDI Token Used For?
ORDI does not have any specific function.
Where to Buy ORDI Token?
Investors can buy/sell ORDI on major exchanges such as Binance, OKX, Bybit, and more.
Potential Evaluation
Here are some objective insights about ORDI:
ORDI is the first token and also the first memecoin on the Ordinals platform. Therefore, its price growth will heavily depend on the development of Ordinals. However, interest in Ordinals has cooled off since its boom in March-April 2024.
As a memecoin entirely controlled by the community, ORDI lacks a clear development model. A key advantage, though, is that all ORDI tokens are fully unlocked, sparing it from inflationary pressure seen in many other projects.
In conclusion, ORDI is a memecoin without clear growth potential, but it benefits from avoiding inflation. Its price volatility depends largely on trends, capital inflows, and the bullish sentiment of its holders. To make the most of ORDI, you must closely monitor the development of Ordinals, especially the influx of capital into its ecosystem. You can check Ordinals data on dune.com or stay updated with the latest and most accurate news on AZC.News.
Conclusion
Above is an overview of Ordinals and ORDI Token brought to you by AZC.News. If you have any questions, feel free to leave a comment for a quick response!
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