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okx

OKX Maintains Support Of Bitcoin Ordinals, Lists Major BRC-20 Token

Semilore Faleti
by Semilore Faleti
2 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Prominent cryptocurrency exchange OKX is gaining attention for its commitment to Bitcoin Ordinals and BRC-20 tokens in recent times. In its latest show of support, the Seychelles-based company and world’s second-largest crypto exchange by trading volume just announced the listing of a major BRC-20 token driving much excitement across the entire Bitcoin community.

Related Reading: Strike Relocates Global Headquarters To El Salvador, Expands Presence To 65 Countries

OKX Lists Premier BRC-20 Token ORDI

Through a press release on Friday, May 20, OKX announced its platform is one of the first exchanges to list the premier and biggest BRC-20 token, ORDI. 

Originally launched as a meme coin in March, ORDI has maintained its position as the most successful BRC-20 project with an impressive market cap of over $272 million, according to data by CoinMarketCap. 

According to its press statement, OKX believes its move to list the ORDI token represents a “significant milestone for the Bitcoin community” as trading on a centralized platform – especially one as prominent as this – allows investors to avoid issues associated with decentralized exchanges (DEXs) such as high network fees, slow transaction speed, slippage, etc.

In addition, one could say that OKX’s listing of ORDI brings more credibility to the Ordinal theory and BRC-20 token standard as a whole, which is much needed as this initiative is still in its early stages of operations.

At the time of writing, ORDI is valued at $12.87, with a 0.5% decline in the last hour. That said, other popular exchanges that have listed ORDI in recent times include Gate.io, Bitget, etc

OKX

ORDI Trading At $12.8594 | Source: ORDIUSD Chart on Tradingview.com
Related Reading: Broke To Big Bucks: Bankrupt Crypto Firm’s NFT Assets Sell For $2.5 Million At Auction

OKX Remains Vocal In Support Of BRC-20 Tokens

Practically inspired by the ERC-20 token standard, BRC-20 tokens are fungible tokens built and deployed on the Bitcoin blockchain using the Ordinals protocol. 

Although they are regarded as an experiment, BRC-20 tokens have seen much adoption in their short period of existence, culminating in a total market cap of $513 million. 

During this time, OKX has been one of BRC-20 tokens’ biggest supporters, with the OKX Wallet being the first multi-chain wallet to allow users to view and transfer Bitcoin ordinals, as well as support BRC-20 trading with the launch of an Ordinals Marketplace. 

Commenting on OKX’s decision to list the ORDI token, Chief Innovation Officer at OLX, Jason Lau, said: 

“OKX is at the forefront of introducing innovative and powerful capabilities that offer choice for Bitcoin and crypto enthusiasts. BRC-20 tokens on Bitcoin present a unique challenge, and we’re excited to be one of the first to offer users a seamless trading, deposit and withdrawal experience. This addition also shows our long-standing commitment towards the growth of the wider Bitcoin ecosystem.”

Aside from ORDI, other popular BRC-20 tokens with significant levels of traction include VMPX, PIZA, DOMO, PEPE, etc. 

-Featured Image: OKX, Chart from Tradingview.
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Semilore Faleti

Semilore Faleti

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Semilore Faleti works as a crypto-journalist at Bitconist, providing the latest updates on blockchain developments, crypto regulations, and the DeFi ecosystem. He is a strong crypto enthusiast passionate about covering the growing footprint of blockchain technology in the financial world.

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