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On Tuesday, cryptocurrency trader Daan Crypto Trades shared on X that ORDI’s (ORDI) price surged more than 3x in only two weeks. The trader also stated that it might be a good idea for traders to stock up on the token during dips or heading into the Bitcoin (BTC) halving.
$ORDI What an insane move this was. More than 3x within 2 weeks. Crazy.
— Daan Crypto Trades (@DaanCrypto) November 7, 2023
Biggest spot bag win in a while.
Don't forget to pay yourself if you catch moves like these 👍 https://t.co/0hrLjg5LE3 pic.twitter.com/2v4MO8NIxw
ORDI’s massive price surge happened after the well known cryptocurrency exchange, Binance, announced the token’s listing and mistakenly linked it to the Bitcoin Ordinals project. Meanwhile, CoinMarketCap data indicated that in just the past 24 hours, ORDI’s price jumped 6+%.
As a result, the altcoin was trading at $15.14 after it was able to set a 24 hour high price of $15.25. However, ORDI’s intraday volume took a 43% hit since yesterday, causing it to dip to $347,992,464 at press time.
Nevertheless, ORDI’s market capitalization was able to rise to $316,717,206, which ranked the altcoin as the 115th largest token by market cap. The cryptocurrency’s latest successes were also still evident in its longer-term performance, as ORDI boasted a weekly performance of +178.19%. The token was up 341.48% on its monthly time frame as well.
ORDI’s positive momentum was also likely fueled by further media attention being directed towards the token after Ordinals creator Casey Rodarmore stated that ORDI has absolutely nothing to do with his project. He also asked Binance representatives to remove all information from the asset listing announcement page.
Following this, Binance has relaunched the correct ORDI data and also removed all links referring to Ordinals. Despite the exchange’s listing error, Binance still gave ORDI the exposure it needed for its price to climb.
Another reason why Binance’s listing of ORDI was such a big deal is because the exchange has made it a point to remove non performing trading pairs recently. Already, certain pairs associated with Shiba Inu (SHIB) and Cardano (ADA) have been removed, but the exchange believed ORDI was worth their while.
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