ORDI Token Surges Over 50% After Binance ‘Seed’ Listing

The Ordinals token (ORDI) saw a price increase of over 50% in the last day after its listing on Binance under the “seed” tag on November 7.

ORDI, which is pegged to bitcoin Ordinals, rose from $7.5 to $11.6 that day as the crypto exchange announced the opening of trading for new spot trading pairs: ORDI/btc, ORDI/USDT, ORDI/TRY . Withdrawals for ORDI, on the other hand, will open on November 8.

ORDI Frenzy

In the last blog postBinance said it will add ORDI as a new lendable asset with the new margin pair, ORDI/USDT, on the isolated margin.

The ORDI listing follows Binance Pool’s introduction in August of the Ordinals Enrollment Service, which simplifies the process of adding additional information to the bitcoin blockchain for users. The Ordinals protocol, which facilitates the generation of BRC-20 tokens and NFTs on the bitcoin network, began gaining enormous popularity earlier this year.

Binance, however, issued a warning in its listing announcement, highlighting that ORDI is a fairly new token that possesses an above-average level of risk and is subject to significant price fluctuations.

“ORDI is a relatively new token that poses a higher risk than normal and, as such, will likely be subject to high price volatility. Please ensure that you exercise sufficient risk management, have conducted your own research regarding the fundamentals of ORDI, and fully understand the project before choosing to trade the token.”

Seed label for ORDI

To address the risks posed by ORDI while allowing investors to access the token, a “seed tag” will be applied. According to Binance, a “seed tag” is essentially a new labeling system introduced by the exchange to help users distinguish tokens that are part of innovative projects with potentially higher volatility and risks.

It replaces the previous “Innovation Zone” and applies to both tokens currently listed in the Innovation Zone and future listings that fall into this category. To trade tokens with Seed Tag, users must pass trials every 90 days on the Binance Spot and/or Binance Margin platforms.

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