The Bitcoin Ordinals market saw a remarkable upswing in activity on December 12, hitting a record-breaking $36 million in trading volume. This was a game-changing development. The recent listing of BRC-20 SATS (Ordinals) on Binance, one of the top cryptocurrency exchanges in the world, was largely responsible for this increase.
According to U.Today, the market for Bitcoin Ordinals had a massive surge in activity when Binance made the formal announcement about the listing of BRC-20 SATS (1000SATS). On December 12, 2023, the 1000SATS spot trading pairs were introduced. Pairs including 1000SATS/USDT, 1000SATS/FDUSD, and 1000SATS/TRY are now available for trading.
Record on-chain activity
Amidst the ensuing trading frenzy, the overall trade volume surged to a remarkable $36 million, with the majority, or 85%, occurring on the OKX platform. Market watchers pointed out that this spike demonstrated an unprecedented degree of involvement and interest in the Bitcoin Ordinals market, suggesting a rising demand for these cutting-edge digital assets.
The tremendous demand for these recently listed BRC-20 Ordinals was further confirmed by the fact that SATS’s on-chain transaction volume surpassed $21 million in addition to the trading volume overall. This increase in on-chain activity indicates that investors are likely involved in substantial SATS movements on the blockchain in addition to active trading.
All things considered, the launch of BRC-20 SATS on Binance has surely been a major factor in generating the enthusiasm surrounding these digital assets. Spot trading pairings have given users more ways to interact with 1000SATS and made it possible to trade with ease against major currencies including USDT, FDUSD, and TRY.
Speculators and investors are left wondering if now is the right time to enter the Bitcoin Ordinals field since the market keeps changing. Record-breaking volumes and a recent spike in trading activity might indicate a change in the cryptocurrency market, with Ordinals emerging as a promising investment choice. Market players are advised to proceed cautiously, nevertheless, given the inherent volatility of cryptocurrency markets.
