Cryptocurrencies are experiencing a notable uptrend, with bitcoin reaching new heights and a lesser-known token, ORDI, hitting an all-time high. ORDI, which operates on the Ordinals protocol, hit a record high of $44.03 before experiencing a minor correction to around $41.50. This represents a substantial 28% daily increase and an impressive 114% increase over the past week.
Bitcoin, the leading cryptocurrency by market capitalization, has also seen significant gains. It soared above $42,000 after topping $40,000 on Sunday afternoon. This bullish momentum reflects a broader enthusiasm in the digital currency market.
ORDI’s remarkable performance can be traced back to its inception earlier this year by creator Domo (NASDAQ:DOMO). Since then, it has been adopted by major cryptocurrency exchanges such as Binance and OKX, contributing to its rising market valuation of $873 million. This growth places ORDI at the 65th position in the cryptocurrency rankings, according to CoinGecko.
The token’s rise is not an isolated event in the crypto space. Other BRC-20 tokens have also seen significant gains over the past week. DOMO skyrocketed by 1,098%, while PEPE increased by 107%, demonstrating the dynamic nature of this asset class.
ORDI’s trading volume also reflects the market’s bullish sentiment, with recent transactions totaling approximately $859 million. In the past month alone, ORDI has increased in value by an astounding 549%, underscoring its rapid rise in the cryptocurrency ecosystem.
