OKX, the well-known crypto exchange, is getting more and more popularity due to its determination to support Bitcoin Ordinals as well as the BRC-20 tokens. In its recent developments in this respect, the Seychelles-based firm – also known as the 2nd-biggest crypto exchange in line with its trading volume – declared listing a prominent BRC-20 token.
OKX Uphold Support for Bitcoin Ordinals with Listing of the Top BRC-20 Token
The respective development has created considerable hype around the whole Bitcoin community. On the 20th of May, the platform published a press release and noted that it has become one of the earliest crypto exchanges that have listed the initial and largest BRC-20 token titled with the ticker symbol ORDI.
The ORDI token was initially launched in the form of a meme token back in March of this year. The coin has maintained a good status as being the most effective BRC-20 project. It has a remarkable market capitalization of more than $272M, as per the statistics provided by CoinMarketCap. As per the press statement of the company, it considers that its latest move of listing the ORDI token denotes an important landmark for the community of Bitcoin.
According to OKX, this development will turn it into a well-known centralized platform supporting Bitcoin ordinals. It permits the investors to evade problems linked to decentralized exchanges (DEXs). These issues take into account huge network charges, slippage, low transfer speed, and so on. Apart from that, it can be said that the ORDI token’s listing on OKX provides additional credibility to the token standard BRC-20 and Ordinal theory overall.
This is much needed as the respective initiative is even now in its initial operational phases. At present, the value of the ORDI token is $12.87. Keeping that in view, the top crypto exchange platforms on which this token has been listed recently take into account Bitget, Gate.io, and so on. The token standard BRC-20 is practically inspired by ERC-20.
Bitcoin Ordinals Gain Considerable Popularity in a Short Period
The tokens based on the former token standards are known as fungible tokens that are developed as well as deployed on the blockchain of Bitcoin with the utilization of the Ordinals protocol. Though the BRC-20 tokens are categorized under experimentation, they have witnessed considerable adoption in a minor period of their existence, with a market capitalization of more than $513M.
In the meantime, the crypto exchange has proved to be among the largest entities supporting BRC-20 tokens. In this respect, the OKX Wallet has turned out to be the initial multi-chain wallet that permits consumers to see as well as transact Bitcoin ordinals.
While remarking on the listing of ORDI on OKX, Jason Lau (OLX’s Chief Innovation Officer) stated that the crypto exchange is introducing resilient facilities by offering choices for crypto and Bitcoin enthusiasts.
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