The daily trading volume of Ordinals, the NFTs of the Bitcoin network, exceeded $36 million this week. This is a new all-time record in the market.
The majority of this record volume, almost 85% ($30 million), took place on the Dune. This can be seen in the following data explorer graph:
The milestone was driven by the listing of the BRC-20 Sats (1000SATS) token on Binance. It's users can now trade this token with the stablecoin tether (USDT), as well as with FDUSD and TRY.
1000SATS is a BRC-20 token that pays homage, as a meme, to the smallest unit of bitcoin known as a satoshi ( SATS). One satoshi is equivalent to 0.00000001 BTC, while 1000SATS is, as its name suggests, one thousand satoshis.
This is related to Ordinals, because BRC-20 is an experimental standard for issuing and transferring fungible tokens on the network Bitcoin. In this way, is part of the movement promoted by Ordinals that seeks to add new use cases to the network.
Given the listing of 1000SATS on Binance, not only did the daily trading volume of Ordinals increase to an all-time high. SATS's daily transaction volume also reached a new record, exceeding $21 million, according to data from the explorer Crypto Slam.
Meanwhile, as the next chart shows, the price of 1000SATS went from USD 0.0005 to USD 0.0007 since its listing on Binance. This reflects a 40% rise, according to the CoinMarketCap explorer.
According to CoinMarketCap, 1000SATS is currently positioned in 211th place in the ranking of crypto assets with the highest market capitalization, this being 1.5 billion dollars.
