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- 1 Specifically, the ORDI token grew significantly on Christmas day, and its trading volume grew over 115%.
- 2 The December 25, 2023 data shows that over 131% more ORDI tokens were traded.
- 3 Bitcoin did not reflect any significant improvement in its price on December 25.
As per data from CoinMarketCap, the ORDI token surged significantly on Christmas. When writing, the token was trading at $69.28, with an intraday surge of 9.33%.
However, it is crucial to note that the 24-hour trading volume of ORDI grew by 195.52%, and analysts believe that the surge will be fueled by the sudden growth of buyers rather than sellers.
The token’s market capitalization showed an improvement as a 9.11% rise was seen in the market cap. The archived data of December 25, 2023, shows that over 131% more ORDI tokens were traded on the celebrated Christmas festival.
Other than the ORDI token, the pioneer of the crypto industry, Bitcoin, crossed the $44k milestone this month, and when writing, it was trading at $42,605. In the monthly time frame, a growth of 13.07% was observed in BTC’s trading price.
ORDI Explained
The Bitcoin Request for Comment (BRC-20) token standard, created by anonymous developer Domo, is the foundation for ORDI.
By enabling users to create and trade tokens on the most significant blockchain in cryptocurrency, similar to ERC-20 coins on Ethereum (ETH) and a defi ecosystem, the objective is to enable transferable assets on the BTC network.
One of the earliest Bitcoin inscriptions is thought to have been made by Casey Rodarmor, who also founded the Ordinals Protocol and its native asset.
Since its inception in the first half of 2023, the project has developed into a crypto asset valued at billions of dollars.
Bitcoin and Crypto Market Performance
Bitcoin did not reflect any significant improvement in price on December 25. Despite being in an uptrend, it had declined from $43k to $42 at time of writing. Ethereum has also grown significantly in the past three months. When writing, it was trading at $2,237.43.
Pepe Coin, one of the most well-known meme coins, was trading at $0.000001385 on December 26 and had decreased by 1.54%.
Its trading volume grew by 11.70%. Interestingly, in the previous 30 days, the leading meme coin player has gained about 19.03%.
A new wave of applications, driven by asset management giant BlackRock Inc., has sparked hopes that the Securities and Exchange Commission would finally approve after over a decade of denials, fueling a 20% Bitcoin rise since mid-June.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
