The Bitcoin network, with its fixed supply of 21 million coins, is famously divisible into 100 million smaller units each known as a satoshi. This creates a total of 2.1 quadrillion satoshis in existence. The Ordinals protocol introduced a novel way to inscribe data—such as text, images, audio, and video—onto individual satoshis, turning them into unique digital artifacts often referred to as "inscriptions." These inscriptions, which can function similarly to NFTs or tokens, are created natively on the Bitcoin blockchain without requiring sidechains, separate tokens, or changes to the Bitcoin core protocol.
What Is ORDI Cryptocurrency?
ORDI (ORDI) is the native cryptocurrency token associated with the Ordinals protocol. Launched in 2023, it operates as a BRC-20 standard token on the Bitcoin blockchain. Its total and maximum supply is capped at 21 million tokens, mirroring Bitcoin's own supply limit. The token is used within the ecosystem for transactions, governance, and accessing features related to inscribed satoshis.
ORDI Price and Market Performance
As of the latest data, ORDI's price is approximately $7.64. Over the past 24 hours, the token has experienced a price change of -$0.65, representing a decrease of about 7.87%. During this period, its price fluctuated between a low of $7.19 and a high of $7.82.
Trading volume for ORDI in the last 24 hours stands at roughly $58.66 million, reflecting active market participation. It is traded on several major cryptocurrency exchanges, providing liquidity and access for traders and investors.
ORDI Key Statistics
- Current Price: $7.64
- 24h Price Change: -$0.65 (-7.87%)
- 24h Low / 24h High: $7.19 / $7.82
- 24h Trading Volume: $58.66M
- Market Capitalization: $160.39 million
- Circulating Supply: 21.00M ORDI
- Total and Max Supply: 21.00M ORDI
Historical Price Analysis
All-Time High and Low
ORDI reached its all-time high price of $29.16 on May 8, 2023. Compared to this peak, the current price is down by approximately 73.8%. Conversely, the token's all-time low was recorded at $4.67. These figures highlight the volatile nature of the cryptocurrency and the importance of timing in investment decisions.
Market Capitalization and Ranking
With a market cap of $160.39 million, ORDI currently holds the #301 rank on CoinMarketCap. Market capitalization is calculated by multiplying the circulating supply by the token's real-time market price.
Is ORDI a Good Investment?
Investing in ORDI, like any cryptocurrency, carries inherent risks due to market volatility. Potential investors should conduct thorough research (often abbreviated as DYOR - Do Your Own Research) and assess their risk tolerance. Analyzing ORDI's price trends and patterns can help identify optimal entry points. It is also crucial to stay updated with developments in the Bitcoin Ordinals ecosystem, as adoption and technological advancements can significantly impact the token's value.
For those interested in tracking ORDI’s performance in real-time or exploring advanced trading strategies, view live tracking tools and charts.
Frequently Asked Questions
What is the Ordinals protocol?
The Ordinals protocol allows users to inscribe data like text, images, and videos onto individual satoshis on the Bitcoin blockchain. This creates unique digital collectibles without altering Bitcoin's core structure or relying on external chains.
How does ORDI token relate to Bitcoin Ordinals?
ORDI is the native token of the Ordinals ecosystem. It is used for transactions, governance, and accessing features within the platform, and is minted following the BRC-20 token standard on Bitcoin.
What factors influence ORDI’s price?
ORDI’s price is influenced by overall cryptocurrency market trends, adoption of the Ordinals protocol, Bitcoin’s performance, regulatory news, and technological developments within the ecosystem.
Where can I buy and trade ORDI?
ORDI is available on several major cryptocurrency exchanges. You can purchase and trade it against other cryptocurrencies like Bitcoin and Ethereum, as well as stablecoins.
What is the long-term potential of ORDI?
The long-term potential of ORDI depends on the widespread adoption of the Ordinals protocol, the growth of the Bitcoin NFT space, and broader market conditions. Its fixed supply could also play a role in its value appreciation over time.
How can I stay updated on ORDI news?
Following official Ordinals and ORDI community channels, cryptocurrency news websites, and market analysis platforms is recommended for the latest updates and insights.