OKX, a leading cryptocurrency exchange, has recently announced the listing of Ordinals (ORDI) on its spot trading markets. The highly anticipated addition of ORDI brings a new dimension to the exchange’s offerings, providing users with exciting opportunities for trading and investment.
The schedule for the listing is as follows: ORDI deposits opened at 07:00 am UTC on May 20, 2023. Once the ORDI token deposit meets the exchange’s requirements, OKX will initiate spot trading for the ORDI/USDT trading pair.
The news of ORDI’s listing has created a significant buzz in the market, causing the token’s value to skyrocket by over 30%. As of the time of writing, ORDI is trading at an impressive $15.36, indicating strong investor interest and market confidence in the asset.
To better understand the nature of Ordinals, it is important to delve into the underlying technology. Ordinals utilizes a protocol that enables the inscription of content onto individual satoshis. Satoshi is the smallest unit of Bitcoin, with one bitcoin being divisible into 100 million satoshis. With a total of 2100 trillion satoshis in existence, the Ordinals protocol provides a unique way to store and transmit information without requiring a separate token, side chain, or modifications to the Bitcoin network.
The inscription process involves writing various types of information, such as text, pictures, audio, and video, directly onto the satoshis. Due to the size limitations of Bitcoin blocks, the primary content for inscription currently focuses on text and pictures, often taking the form of non-fungible tokens (NFTs) and tokens.
Ordinals, represented by the ticker symbol ORDI, has a total supply of 21,000,000 tokens as of May 20, 2023. The circulating supply also stands at 21,000,000 tokens, ensuring a balanced distribution and healthy market dynamics.
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