OKX CEO said he is being urged to list more Bitcoin ordinals as BRC-20 total market cap surges 30% in one day.
The CEO of cryptocurrency exchange OKX said he is being encouraged to list more Bitcoin (BTC) ordinals as the total market capitalization of BRC-20 tokens increased by 30% in one day.
In a lengthy thread, OKX CEO Jay Hao told his 65,500 followers on social media platform
“Many of my friends are urging me to list more BRC-20 tokens. Thank you for this kind suggestion. I believe that if we as an exchange used the simplest strategy of listing all tokens, it would destroy the market, although it might help the exchange make money faster.
OKX never wants to be the most aggressive listing exchange in the industry. OKX may not be the biggest leader in the industry, but it has a long-term philosophy of building infrastructure, not being evil, being as transparent as possible, and always technology-driven.
(Sending) spam list requests to me on Twitter will never work.”
The BTC ordinal allows investors to engrave digital items such as images and videos into Satoshi, the smallest unit of Bitcoin, similar to the way non-fungible tokens (NFTs) are issued.
Hao goes on to list five principles that OKX uses to decide whether to list a cryptocurrency product.
“1. Whether the token is blockchain technology and product-oriented.
2. The popularity of the token in the community.
3. Whether the project founders and investor team are long-term builders.
4. Legal and regulatory compliance review.
5. We do not accept pitches, we select projects from the market based on our research.”
According to data from CoinGecko, the overall market capitalization of BRC-20 tokens has increased 33.8% over the past 24 hours to $2.2 billion.
At the time of this writing, Bitcoin is trading at $43,654, up slightly on the day.
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Featured image: Shutterstock/Jorm S
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