header banner

Time to Jump in as Bitcoin Ordinals Break Records With $36 Million Trading Frenzy? By U Currently

Table of Contents

Bitcoin Ordinals Smash Records With $36 Million Trading Frenzy - Time to Dive In? © Reuters. Bitcoin Ordinals Smash Records With $36 Million Trading Frenzy - Time to Dive In?

U.Today - In a groundbreaking turn of events, the Ordinals market experienced an unprecedented surge, a staggering $36 million in trading volume on Dec. 12, setting a new record. This surge was primarily attributed to the recent listing of BRC-20 SATS (Ordinals) on Binance, one of the world's leading cryptocurrency exchanges.

As reported by U.Today, the Bitcoin Ordinals market an overwhelming response following the official announcement by Binance regarding the listing of BRC-20 SATS (1000SATS). The spot trading pairs for 1000SATS were launched on Dec. 12, 2023, opening up trading opportunities with pairs such as 1000SATS/USDT, 1000SATS/FDUSD and 1000SATS/TRY.

Record on-chain activity

The trading frenzy that ensued the total trading volume skyrocket to an impressive $36 million, with the lion's share, 85%, taking place on the OKX exchange. Market observers noted that this surge marked an extraordinary level of interest and participation in the Bitcoin Ordinals market, indicating a growing appetite for these novel digital assets.

In addition to the overall trading volume, the on-chain transaction volume of SATS $21 million, further solidifying the overwhelming demand for these newly listed BRC-20 Ordinals. This spike in on-chain activity suggests that investors are not only actively trading but also engaging in significant movements of SATS on the blockchain.

Overall, the introduction of BRC-20 SATS on Binance has undoubtedly played a pivotal role in fueling the excitement around these digital assets. The availability of spot trading pairs has provided users with various options to engage with 1000SATS, allowing for seamless trading against major currencies like USDT, FDUSD and TRY.

As the market continues to evolve, enthusiasts and investors are left wondering whether now is the opportune moment to dive into the Bitcoin Ordinals space. The recent surge in trading activity and the record-breaking volumes may signal a shift in the cryptocurrency landscape, with Ordinals as a viable investment option. However, market participants are urged to approach with caution, considering the inherent volatility of cryptocurrency markets.

This article was originally published on U.Today


Article information

Author: Carlos Sherman

Last Updated: 1704406322

Views: 863

Rating: 3.5 / 5 (40 voted)

Reviews: 99% of readers found this page helpful

Author information

Name: Carlos Sherman

Birthday: 1978-11-05

Address: 4264 Alexandra Brooks Suite 109, Millsfort, WY 98305

Phone: +3831943400827703

Job: SpaceX Engineer

Hobby: Magic Tricks, Hiking, Sailing, Motorcycling, Rock Climbing, Dancing, Woodworking

Introduction: My name is Carlos Sherman, I am a resolved, Precious, unwavering, vivid, audacious, clever, tenacious person who loves writing and wants to share my knowledge and understanding with you.