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What is Ordinals Coin (ORDI)?
Ordinals Coin (ORDI) is the first BRC-20 token created using Bitcoin's Ordinals protocol. It is a memecoin designed to showcase the capabilities of the Ordinals technology, enabling the creation and trading of custom tokens directly on the Bitcoin network. ORDI represents a significant step in expanding Bitcoin's utility beyond its traditional role as a store of value.
How does Ordinals Coin (ORDI) work?
ORDI operates on the Bitcoin blockchain using the Ordinals protocol and the BRC-20 token standard. The Ordinals protocol allows data to be inscribed directly onto satoshis, Bitcoin's smallest units, enabling the creation of NFT-like assets and custom tokens without relying on external smart contract platforms. ORDI inherits Bitcoin's Proof of Work (PoW) consensus mechanism, ensuring its security and decentralisation.
What are the potential use cases for Ordinals Coin (ORDI)?
ORDI has several use cases, particularly within the growing ecosystem of Bitcoin-based tokens and digital assets:
- Trading: Facilitates trading on decentralised and centralised exchanges.
- Digital Collectibles: Supports the creation and management of NFT-like digital collectibles directly on Bitcoin.
- Asset Experimentation: Provides a platform for experimenting with new types of digital assets on the Bitcoin network.
ORDI is relevant across industries such as cryptocurrency trading, digital collectibles and NFTs, and decentralised finance (DeFi) on Bitcoin.
What is the history of Ordinals Coin (ORDI)?
ORDI was launched in March 2023 as the first BRC-20 token, based on the Ordinals protocol developed by Casey Rodarmor in January 2023. Significant milestones in its history include:
- March 2023: Launched as the first BRC-20 token.
- May 2023: Listed on major exchanges, including Coinstash.
- December 2023: Reached a market cap of over $1 billion.
- Token Supply: Capped at 21 million tokens, mirroring Bitcoin’s supply limit.
Since its launch, ORDI has rapidly gained traction, becoming a key player in the Bitcoin-based token ecosystem. It has driven increased activity and fees on the Bitcoin network, showcasing the potential for diverse digital assets to thrive on Bitcoin.
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Frequently Asked Questions (FAQs)
What is the current price of ORDI (ORDI)?
The ORDI price is $29.6 AUD, representing a -9.96% from the day prior.
Where is the best place to buy ORDI (ORDI) in Australia?
The best place to buy ORDI (ORDI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell ORDI (ORDI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of ORDI (ORDI)?
The trading volume of ORDI (ORDI) is $91.4M AUD in the last 24hrs, representing a -9.96% from the day prior.
How can I buy ORDI (ORDI)?
ORDI (ORDI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of ORDI (ORDI)?
The current market cap of ORDI (ORDI) is $619.3M AUD.
Can I convert ORDI (ORDI) to cash?
Yes - With Coinstash you can convert your ORDI (ORDI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many ORDI (ORDI) are there?
The current circulating supply of ORDI (ORDI) is 21.0M.
Is Coinstash a safe place to buy ORDI (ORDI) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling ORDI (ORDI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.