Prominent cryptocurrency exchange OKX is gaining attention for its commitment to Bitcoin Ordinals and BRC-20 tokens in recent times. In its latest show of support, the Seychelles-based company and world’s second-largest crypto exchange by trading volume just announced the listing of a major BRC-20 token driving much excitement across the entire Bitcoin community.
OKX Lists Premier BRC-20 Token ORDI
Through a press release on Friday, May 20, OKX announced its platform is one of the first exchanges to list the premier and biggest BRC-20 token, ORDI.
Originally launched as a meme coin in March, ORDI has maintained its position as the most successful BRC-20 project with an impressive market cap of over $272 million, according to data by CoinMarketCap.
According to its press statement, OKX believes its move to list the ORDI token represents a “significant milestone for the Bitcoin community” as trading on a centralized platform – especially one as prominent as this – allows investors to avoid issues associated with decentralized exchanges (DEXs) such as high network fees, slow transaction speed, slippage, etc.
In addition, one could say that OKX’s listing of ORDI brings more credibility to the Ordinal theory and BRC-20 token standard as a whole, which is much needed as this initiative is still in its early stages of operations.
At the time of writing, ORDI is valued at $12.87, with a 0.5% decline in the last hour. That said, other popular exchanges that have listed ORDI in recent times include Gate.io, Bitget, etc
OKX Remains Vocal In Support Of BRC-20 Tokens
Practically inspired by the ERC-20 token standard, BRC-20 tokens are fungible tokens built and deployed on the Bitcoin blockchain using the Ordinals protocol.
Although they are regarded as an experiment, BRC-20 tokens have seen much adoption in their short period of existence, culminating in a total market cap of $513 million.
During this time, OKX has been one of BRC-20 tokens’ biggest supporters, with the OKX Wallet being the first multi-chain wallet to allow users to view and transfer Bitcoin ordinals, as well as support BRC-20 trading with the launch of an Ordinals Marketplace.
Commenting on OKX’s decision to list the ORDI token, Chief Innovation Officer at OLX, Jason Lau, said:
“OKX is at the forefront of introducing innovative and powerful capabilities that offer choice for Bitcoin and crypto enthusiasts. BRC-20 tokens on Bitcoin present a unique challenge, and we’re excited to be one of the first to offer users a seamless trading, deposit and withdrawal experience. This addition also shows our long-standing commitment towards the growth of the wider Bitcoin ecosystem.”
Aside from ORDI, other popular BRC-20 tokens with significant levels of traction include VMPX, PIZA, DOMO, PEPE, etc.