ORDI Token Rockets to New Heights with 50% Surge After Binance Listing!

"Binance Urges Caution as ORDI Token Receives 'Seed' Project Tag; Traders Advised to Understand Fundamentals and Implement Risk Management"

Binance, one of the leading cryptocurrency exchanges, has introduced a new classification called the “seed” project tag for high-risk and potentially volatile tokens. In line with this classification, Binance has issued an announcement advising traders to fully comprehend the fundamentals of ORDI (Bitcoin Ordinals) and apply risk management before engaging in any trading activities.

The Bitcoin Ordinals protocol, which was introduced earlier this year, allows users to inscribe digital art references into small Bitcoin transactions using the BRC-20 token standard. This innovative feature has sparked a wave of digital artwork and meme tokens on the Bitcoin network. So far, the protocol has issued 38 million inscriptions, accumulating over $77 million in Bitcoin-based developer fees.

To coincide with the listing of ORDI, Binance has introduced spot trading pairs for ORDI/BTC, ORDI/USDT, and ORDI/TRY. The exchange has also conducted an ORDI Deposits and Withdrawals Activity as part of the listing process. This activity rewarded the first 1,000 users who deposited at least 72 ORDI tokens with a $50 USDT Trading Fee Rebate Voucher.

In addition to these measures, Binance has made it mandatory for users interested in trading such tokens to pass regular quizzes on their platform. This initiative aims to ensure that traders have a thorough understanding of the risks and unique attributes associated with these types of tokens.

It is important to note that this article was generated with the support of artificial intelligence and has been reviewed by an editor to ensure accuracy and adherence to journalistic standards. For more information, please refer to our terms and conditions.

Martin Reid

Martin Reid

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