Binance's plans to support Ordinals comes amid a meteoric rise in the number of inscriptions on the BTC blockchain. The post Binance to Add Bitcoin Ordinals as Number of Inscriptions Double in a Week appeared first on Tokenist.
Binance Will Add Support for Bitcoin Ordinals in Late May
Binance is set to add support for Bitcoin Ordinals on its NFT marketplace later this month, the company announced in a statement on Tuesday. As a result, Binance users will no longer need to use a separate wallet to trade Ordinal inscriptions, also referred to as Bitcoin NFTs.
“Binance users will also be able to purchase and trade Bitcoin NFTs directly with their Binance accounts. This integration offers even more seamless and efficient trading for Binance users.”
– Binance announced in a blog post on Tuesday.
The move comes in the wake of the rapid growth of Ordinals on the Bitcoin network. Over the past eight days, Ordinal inscriptions skyrocketed from 2.5 million to 4.78 million, marking a nearly twofold increase.
Ordinals Attract Mixed Responses in Bitcoin Community
While many in the crypto community have been keenly awaiting the day they could issue and trade NFTs on Bitcoin, not all have welcomed this idea. The so-called Bitcoin purists see Ordinals as a departure from the original intent of Bitcoin, which was designed to be used as a medium of exchange and a decentralized store of value. That said, Bitcoin purists believe the Ordinals have introduced elements of centralization and undermined the idea of Bitcoin being a purely digital and value-neutral currency.
Have you issued or traded Bitcoin Ordinals recently? If yes, tell us about your experience in the comments below.