Binance, one of the leading crypto exchanges, has declared its intention to list Ordinals (ORDI), with the commencement of new spot trading pairs scheduled for 10 a.m. UTC on November 7.
Upon its listing, Binance will provide spot trading pairs, including ORDI/BTC, ORDI/USDT, and ORDI/TRY. Withdrawals for ORDI are set to become available at 6:30 a.m. UTC on November 8. Additionally, Binance is planning to introduce ORDI as a new asset available for borrowing, paired with the margin pair ORDI/USDT on Isolated Margin trading.
Ordinals (ORDI) Surges Nearly 49%
ORDI has undergone a remarkable price surge, registering a 49% increase over the last 24 hours, reaching $11.06, according to data from Coingecko.
This notable surge in price closely follows the announcement of ORDI’s listing on Binance and underscores the high level of enthusiasm surrounding this digital asset.
Binance’s decision to list ORDI on its platform comes after Binance Pool introduced the Ordinals Inscription Service back in August. This service streamlines the process for users to add supplementary data to the Bitcoin blockchain, potentially contributing to the increased interest in ORDI.
The Ordinals protocol, which is renowned for facilitating the creation of BRC-20 tokens and NFTs on the Bitcoin network, has garnered significant attention in the cryptocurrency space this year.
However, Binance is advising users to be cautious about ORDI’s risk profile, as it is a relatively new token with the potential for higher-than-average price volatility.
To address this concern, the exchange will assign ORDI a “Seed Tag,” which categorizes projects that may entail increased volatility and risk in comparison to other offerings. Users will be required to pass corresponding quizzes every 90 days when engaging with seed tag tokens on Binance’s Spot or Margin platforms, as detailed in the official statement.