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Bitcoin Ordinals ORDI token reaches $1 billion market cap after 850% monthly gain

The ORDI token, based on Bitcoin Ordinals, became the first BRC-20 token to surpass $1 billion in market cap after posting monthly and weekly triple-digit percentage gains.

Second On December 5, ORDI hit a new all-time high of $65, up more than 850% from $6.80 on November 5, according to data from CoinGecko. ORDI increased by 216% in the last seven days.

The sudden increase in ORDI price made it the first BRC-20 token Reaching a market value of $1 billion. At the time of this writing, its value was $1.3 billion.

ORDI is down slightly from its highs and is trading below $61; This still represents an increase of over 2,000% from the all-time low of $2.86 recorded on September 11th.

Last month, ORDI gained over 850% in value. Source: CoinGecko

Bitcoin Sequence Numbers It was first released by Casey Rodarmor in January. The protocol allowed content to be written to the Bitcoin blockchain, including non-fungible tokens (NFTs) and entirely new tokens using the BRC-20 standard.

Related: Riot Platforms Purchases $291 Million in BTC Hardware

Ordinals have rapidly gained popularity among the blockchain community. After a brief dip in registrations in October, Binance’s decision to list ORDI on November 7 reignited interest in these assets.

Bitcoin Ordinals saw a brief dip in activity in October but quickly recovered. Source: Dune Analytics

More than 48 million Ordinal assets have been recorded and more than $146.9 million in fees have been paid to the Bitcoin network since the protocol’s inception, according to Dune Analytics data.

Transaction fees on November 20 They overtook Ethereum in the Bitcoin network due to the craze for registering new NFT and BRC-20 tokens.

Also launching on November 17 is the Taproot Wizards project based on Ordinals, he declared A $7.5 million seed round.

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