In the dynamic world of cryptocurrency, ORDI emerges as a novel token intrinsically linked to the Bitcoin Ordinals protocol, an inventive development within the Bitcoin ecosystem. This unique protocol, designed by software engineer Casey Rodarmor, revolutionizes the way we perceive Bitcoin's capabilities. It enables the encoding of various types of data, including text and images, directly onto individual Satoshis, the smallest unit of Bitcoin. This groundbreaking technique allows for the creation of distinct digital assets resembling non-fungible tokens (NFTs) on the Bitcoin blockchain, without necessitating a separate token or a sidechain.
What is ORDI?
ORDI ($ORDI), as a cryptocurrency, capitalizes on the innovative approach of the Bitcoin Ordinals protocol. However, the creator or team behind the creation of the ORDI token specifically is not prominently documented in the public domain (Anon). It's important to note that while the Ordinals protocol opened up new possibilities within Bitcoin's framework, ORDI as a token represents a distinct development, leveraging the technical foundation provided by the Ordinals concept.
The introduction of ORDI in the crypto market has been met with notable enthusiasm and growth. Its market capitalization swiftly exceeded $1 billion in just under a year since its inception, marking its significance and potential in the evolving landscape of digital currencies. This rapid growth reflects a burgeoning interest in new forms of digital assets that extend beyond the traditional scope of cryptocurrencies, highlighting the continuous innovation occurring within the blockchain space.
Ordinal Spam?
The introduction of the Ordinals protocol to the Bitcoin network has stirred significant debate within the cryptocurrency community. Critics argue that the Ordinals protocol deviates from Bitcoin's original purpose as a financial transaction network. They contend that the network is now grappling with increased congestion and higher transaction fees due to the added strain of accommodating these new types of data which only pushes the Bitcoin โBig Blockerโ narrative of Bitcoin upping its blocksize to incorporate these new types of protocols.
Bitcoin Core developer Luke Dashjr considers the Ordinals protocol a spam "bug" in Bitcoin's system and originally advocated for its removal. He had been actively working to filter out Ordinals transactions from his personal Bitcoin node and the node used by his mining pool, OCEAN. Dashjr argues that Ordinals use Segwit and Taproot upgrades in unintended ways, deviating from Bitcoin's primary function as a payment network. His stance is that these inscriptions exploit a vulnerability in Bitcoin Core software and should be fixed. He also takes issue with Samourai-style Whirlpool transactions and has implemented measures in his Bitcoin Knots software, used by OCEAN, to limit their processing.
Just a mere few days after Luke made his thoughts clear on Ordinals, Udi Wertheimer a prominent Bitcoin developer who is frequently seen going toe-to-toe in online sparring matches with โBitcoin Maxisโ had this to say:
In effect highlighting teh fact that Ocean Mining Pool [decided to offer](https://offering ๐บ๐๐น๐๐ถ๐ฝ๐น๐ฒ ๐ฏ๐น๐ผ๐ฐ๐ธ ๐๐ฒ๐บ๐ฝ๐น๐ฎ๐๐ฒ ๐ฝ๐ผ๐น๐ถ๐ฐ๐ถ๐ฒ๐, giving miners control over what blocks they are mining.) โ๐บ๐๐น๐๐ถ๐ฝ๐น๐ฒ ๐ฏ๐น๐ผ๐ฐ๐ธ ๐๐ฒ๐บ๐ฝ๐น๐ฎ๐๐ฒ ๐ฝ๐ผ๐น๐ถ๐ฐ๐ถ๐ฒ๐, giving miners control over what blocks they are mining.โ
This announcement is seen as a backflip from Luke and Ocean, and indicates what many pro-Ordinals groups had been saying such as Twitter user @armyofyouth a prominent $ORDI investor known to have inscribed and purchased a vast amount of ORDI, saying repeatedly during various X Spaces and YouTube interviews that โit (ORDI) canโt be stoppedโ and repeatedly expressing that ORDI is an unstoppable exponent and that it is โthe hardest of hard moneyโ.
https://youtu.be/iqjIGRA9Jjk?si=vTjE8YBfPkJVOSiZ
It appears that for now Ordinals have won the battle and are continuing to be inscribed and transacted onto the Bitcoin network adding weight to @armyofyouthโs claim that they canโt be stopped.
$ORDI Price & Price Predictions 2024-2025
As of the latest available information, the price of ORDI is around $52.00 with a phenomenal market cap of $1.1 billion. ORDI is currently sitting in position #13 by price, position #63 by total market cap, and position #16 by 24-hour volume - all of which is extraordinary considering the ORDI token was first inscribed in March 2023 and since that time it has been able to absorb a vast amount of investment.
Predicting the price of a cryptocurrency like ORDI for the 2024-2025 period involves considering various factors such as market trends, technological developments, regulatory changes, and the overall performance of the cryptocurrency market. Given these variables, any price prediction should be viewed with caution and not as definitive financial advice.
Based on the trends observed and the growth trajectory of ORDI since its introduction, some analysts project a continued upward trend, especially considering its unique positioning within the Bitcoin Ordinals framework and its growing market cap.
X/Twitter personality @armyofyouth has indicated he sees ORDI experiencing its โeuphoricโ phase around November-December 2025 and has said publicly on X/Twitter that we could see a $1,000 range between now and then. Other traders and analysts are suggesting the next phase for ORDI will be up from the $50.00 range to over $100.00 and potentially even over $200.
As always in this space - Do Your Own Research (DYOR) and THIS IS NOT FINANCIAL ADVICE.