ORDI price nears a record high as Bitcoin Ordinals NFT volume soars
ORDI token price continued this week as it surged to the highest level since May this year. The coin surged to a high of $28.37, which was about 845% above the lowest point this year. Its total market cap has surged to over $524 million, making it one of the fastest-growing tokens in the world. ORDI coin has soared, helped by the rising demand for Bitcoin Ordinals. According to CryptoSlam, the total volume of these NFTs soared to over $20 million in the past 24 hours.
For starters, Bitcoin Ordinals are NFTs that use unique ways that people use to store text, images, and other data on the Bitcoin ecosystem. They have become large players in the NFT industry in the past few months. Further data shows that the total futures open interest for ORDI tokens jumped to a record high. Interest soared to a high of $124 million in the past 24 hours. Most of this open interest was from OKX, Binance, and Bybit. Futures open interest is an important part in the cryptocurrency industry. It refers to the unfilled positions in the futures market. In most periods, higher open interest is a sign that there is higher demand.
Source
@Metaverse_Defi_Nfts_Trading
