After cryptocurrency exchange Binance announced that it plans to list ORDI with new trading pairs, the price of the token soared by 48%.
In a statement, Binance said it will begin offering ORDI/BTC, ORDI/USDT and ORDI/TRY pairs on November 8th.. The exchange also plans to add ORDI to the ORDI/USDT margin pair. After that, according to CoinGecko, the price of ORDI rose within 24 hours, reaching $11.0 — a new high since May of this year.
The token is currently trading at $10.19. Binance, however, warned in its listing statement that ORDI is a “relatively new token that poses a higher risk and is therefore likely to be subject to high volatility.”.
In September, Bloomberg wrote that the profits of market makers in cryptocurrency fell by 30% after the collapse of the FTX exchange and amid a decline in trading volumes of digital currencies. In August, the popularity of «Bitcoin-based NFTs» — Bitcoin Ordinals — declined catastrophically, as many analysts predicted. Since May, trading volume of BRC-20s tokens has fallen by 97%.