The Ordinal Token (ORDI) has created a stir in the cryptocurrency market after recording a remarkable $93 million in trading volume within just 12 hours of its first listing on a centralized exchange (CEX). This marks a major milestone for the first BRC-20 token on the market, raising curiosity over how the token has performed.

Ordinals are a form of digital assets similar to Non-Fungible Tokens, allowing users to inscribe images, video games, and other content on satoshis, which are the smallest denomination of a bitcoin. This has resulted in the expansion of the market for unique digital assets and provided new avenues for creators to monetize their content.

The listing of ORDI by Gate.io is a significant event in the Ordinal market as it provides greater liquidity and access to investors looking to get a piece of the promising investment. Additionally, the inscriptions of Ordinals have caused a surge in transaction fees and the average block size of the Bitcoin blockchain, along with the growth of the blockchain network.

Despite the seemingly positive effect the ORDI listing has had on the cryptocurrency market, data shows that the price of Bitcoin has decreased 4.96% in the last 24 hours, which is far below the highest losses of38% of other altcoins. This indicates that the success of Ordinals was unable to offset the losses in certain coins.



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