Gate News update, April 20. According to Gate market data, as of the time of publication, ORDI (Ordinals) is trading at $4.76. It is up 10.13% over the past 24 hours, with a high of $5.36 and a low of $4.05. The 24-hour trading volume is $8.4388 million. The current market cap is about $100 million.
The Ordinals protocol enables the inscription of NFTs and tokens on Bitcoin by writing content into the smallest unit of Bitcoin, the satoshi. Bitcoin’s total supply of 21 million coins is further divided into 21 trillion satoshis. Users can permanently record content such as text, images, audio, and video on satoshis through the Ordinals protocol, without relying on separate tokens, sidechains, or modifying Bitcoin itself.
ORDI recent important news:
1️⃣ Inscription sector heat continues to rise; the BRC-20 ecosystem broadly rallies
Recently, the BRC-20 token ecosystem has seen a clear upward trend. Including ORDI, SATS, RATS, and other major inscription tokens, all have recorded significant gains. The overall bullish trend in the inscription market reflects users’ continued attention to Bitcoin-native NFT and token innovation. These applications built on the Ordinals protocol are gaining broader market recognition within the Bitcoin ecosystem.
2️⃣ Derivatives market activity is high; liquidation volume remains at extreme levels
Over the past 24 hours, ORDI’s total liquidation amount across the entire network was approximately $36.60 million. Liquidations on the short side dominated. The largest single liquidation amount exceeded $870,000, and liquidation volume remains at extreme levels. Meanwhile, open interest value and trading volume have risen significantly. The 24-hour trading volume growth exceeded 3000%, reflecting a surge in trading enthusiasm among market participants, while the risks of leveraged trading are correspondingly amplified.
3️⃣ Market volatility increases further; the price oscillation range expands
In recent times, ORDI’s price has recorded multiple large swings in a short period. After briefly touching a $10.7 peak, it saw a correction. At one point, the intraday decline exceeded 25%. This high volatility reflects rapid changes in market sentiment and participants’ disagreements about the direction of price movements. Investors need to remain highly vigilant about market risks.
This information is not investment advice. When investing, be sure to consider the risk of market volatility.
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