Bitcoin ordinals, also known as Bitcoin NFTs, have become the focus of the Web3 space, as more markets continue to adopt and offer digital assets.
On May 9, cryptocurrency exchange Binance announced that it will support Bitcoin ordinals on its NFT market at the end of May. The development will expand Binance’s multi-chain NFT ecosystem to include the Bitcoin network.
Previously, the Binance NFT marketplace was integrated with other decentralized networks, including BNB Chain, Ethereum, and Polygon.
Mayur Kamat, head of product at Binance, commented on the broadening of offerings on the exchange and Bitcoin.
BTC
mark down
$27,744
cryptographic legacy:
“Bitcoin is the OG of cryptocurrencies.”
The update allows Binance users to buy and trade Bitcoin ordinals from existing Binance accounts. According to the announcement, the update will also include royalty support and “additional income-generating opportunities” for those who create Bitcoin ordinals.
Related: Bitcoin Metrics To The Moon: ATH For Hash Rate, Daily And Ordinal Transactions
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Prior to the Binance announcement, cryptocurrency exchange OKX similarly announced in late April that it would be bringing Bitcoin ordinals to its marketplace and wallet ecosystem. Initially, OKX users could view and store ordinals using their accounts, and the option to mint ordinals is hinted at in the future, according to Haider Rafique, OKX’s director of marketing.
Bitcoin NFTs are also available on marketplaces like Magic Eden, which integrated the feature in March.
The ordinals reach 3 million registrations. Source: dune
According to recent data, Bitcoin ordinal signups have been on the rise in recent months. On April 2, Bitcoin ordinals reached 58,179 registrations, 83.5% more than the previous month. However, on May 1, the total number of Bitcoin ordinal signups skyrocketed to over 3 million.
Nonetheless, they remain a controversial topic within the crypto community, with Bitcoin maximalists criticizing them for deviating from Bitcoin’s original peer-to-peer ethos.
