Ordinarys (ORDI) Reaches IDR 1 Million Per Coin, Market Capitalization Touches IDR 20.6 Trillion

ORDI, the first crypto asset developed on the Bitcoin blockchain. (Photo; Doc. Coindar)

JAKARTA - Ordinarys (ORDI), the BRC20 token running over the Bitcoin network, recorded extraordinary achievements with an increase in market capitalization of up to $1 billion (equivalent to Rp15.5 trillion). The increase in the market cap of ORDI also pushed the price movement to penetrate Rp1 million at 00:45 in the morning, December 6, based on Coinecko data. After that, it fell back to the level of Rp900 thousand.

With a capitalization of more than $1 billion, ORDI became the first BRC20 token to reach this milestone, showing the great potential of tokens associated with Bitcoin. ORDI is now trading at a price of IDR 980 thousand per coin, up 220% in the past week.

BRC-20 is an experimental token standard that allows the creation and transfer of NFT through the Ordinary protocol on the Bitcoin blockchain. This token standard is inspired by ERC-20 token standards on the Ethereum network, but has different mechanisms and functions. BRC-20 does not use smart-contract and has more limited functions.

One of the driving factors driving the increase in ORDI prices is the announcement of listing on Binance, one of the largest crypto exchanges in the world. This offer is the main key in increasing investor confidence and driving a spike in ORDI prices.

The trading volume of Ordinarys also experienced a significant increase, up 12.77%, reaching $1.27 billion (Rp19.7 trillion). This surge in trading activity shows that positive sentiment around the ORDI market is likely to continue. In line with that, the market capitalization of ORDI rose 30.23%, now reaching $1.33 billion (Rp20.6 trillion).