OKEx, a prominent cryptocurrency exchange, has been making headlines recently for its support of Bitcoin Ordinals and BRC-20 tokens.
Many in the Bitcoin community are delighted by the newest display of support from the Seychelles-based business that is the world’s second-largest crypto exchange by trading volume listing a key BRC-20 asset.
On Friday, May 20th, OKX announced in a press release that it will be one of the first exchanges to offer ORDI, the largest and most prominent BRC-20 coin.
CoinMarketCap statistics show that since its March inception as a meme currency, ORDI has amassed a market valuation of nearly $272 million, making it the most successful BRC-20 project.
OKX claims in a press release that listing the ORDI token is a “significant milestone for the Bitcoin community” because trading on a centralized platform, especially one as prominent as this, allows investors to sidestep problems common to decentralized exchanges (DEXs) like high network fees, slow transaction speed, slippage, etc.
Additionally, one may argue that OKX’s listing of ORDI lends additional support to the Ordinal theory and the BRC-20 token standard as a whole, which is much required given the project’s inception.
ORDI has dropped 0.5% in value in the past hour, to $12.87 at the time of this writing. However, several major marketplaces like Gate.io, Bitget, etc., have recently featured ORDI.
Despite its experimental status, the BRC-20 coin has received significant acceptance in its short time on the market, increasing its market worth to $513 million.
OKX has been a major proponent of BRC-20 tokens from their inception, with the OKX Wallet being the first multi-chain wallet to facilitate BRC-20 token trading and display and transfer Bitcoin ordinals.
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