Binance Adjusts its ORDI Description Following Several Call-Outs

Cryptocurrency exchange platform Binance has corrected the description and links included in its ORDI token listing announcement. The adjustment came on the back of several callouts over “misleading statements” in the previous announcement.

Popular blockchain journalist Wu Blockchain noted the development in a post on Wednesday. According to Wu, Binance has changed its ORDI description to indicate that it is the first BRC-20 fungible token on the Bitcoin blockchain. Wu added that “BRC-20 is a part of the Ordinals protocol, and ORDI is just a memecoin in BRC20.”

Notably, the crypto exchange drew criticism after it included a wrongful description of the ORDI tokens, which many Bitcoin ordinals community members pointed out. In the announcement, Binance had described the token as ordinals, which are inscriptions built into a bitcoin.

Bitcoin ordinals creator Casey Armor took to X – formerly Twitter – to raise his concerns about the description. “ORDI is not associated with the Ordinals project, The Open Ordinals Institute, or The Ordicord. Those links should be removed, and the token should not be named “Ordinals.” The name of the token is ORDI,” he tweeted.

Along the same lines, a member of the Ordinalhub team noted that the ORDI info page on Binance contains links not associated with the token. He stated that the official website, whitepaper, and block explorer links included in the page are not associated with the ORDI token.

Meanwhile, ORDI continues to sustain an upward surge in its price following the wake of the Binance listing. The token’s trade volume has also increased considerably, with a 783% increase in the last 24 hours.

At the time of press, ORDI’s price sits at $13.59, according to CoinMarketCap data. However, the token is still far from its peak price of $25 it recorded earlier in May 2023.