© Reuters.
Cryptocurrencies are experiencing a notable uptrend, with new heights being reached and a lesser-known token, ORDI, reaching an all-time high. ORDI, which operates on the Ordinals protocol, reached a record value of $44.03 before experiencing a minor correction to around $41.50. This represents a significant 28% daily increase and an impressive 114% increase over the past week.
Bitcoin, the leading cryptocurrency by market capitalization, has also shown significant gains. It jumped above $42,000, after rising more than $40,000 on Sunday afternoon. This uptick reflects broader enthusiasm in the digital currency market.
ORDI’s remarkable performance can be traced back to its founding earlier this year by creator Domo. It has since been adopted by major crypto exchanges such as Binance and OKX, which has contributed to its market valuation increasing to $873 million. This growth places ORDI at 65th place in the cryptocurrency rankings according to CoinGecko.
The rise of the token is not an isolated event in the crypto space. Other BRC-20 tokens have also seen significant gains over the past week. DOMO skyrocketed 1,098%, while PEPE increased 107%, showing the dynamic nature of this asset class.
ORDI’s trading volume also reflects the market’s bullish sentiment, with recent transactions amounting to approximately $859 million. In the past month alone, ORDI’s value has escalated by a staggering 549%, underscoring its rapid ascent in the crypto ecosystem.
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