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The native token of the <a href="https://crypto.news/binance-launches-marketplace-focused-on-ordinals-protocol/">Ordinals protocol</a>, <a href="https://crypto.news/price/ordi/">ORDI</a>, has emerged as the top gainer among the leading 100 cryptocurrencies while a key indicator suggests high volatility for the asset. 
ORDI is up by 14% in the past 24 hours and is trading at $70.3 at the time of writing. Following the price surge, the asset’s market cap surged to $1.47 billion, making it the 53rd-largest digital currency.&nbsp; 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/02/ORDI-ORDI-12.48.10-13-Feb-2024-1024x347.png" alt="ORDI emerges as the top gainer, high volatility expected - 27" class="wp-image-14247850">
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 ORDI price, RSI, social volume, open interest and funding rate – Feb. 13 | Source: Santiment
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</figure> 
According to data provided by Santiment, crypto conversations around ORDI declined by 6% on social media over the past 24 hours.&nbsp; 
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Data from the market intelligence platform shows that ORDI’s Relative Strength Index (RSI) is currently standing at 67 — recording a notable increase from the 35 mark on Feb. 4.&nbsp; 
The indicator suggests that whale manipulation might be in play for ORDI and high volatility is expected until further price movements. For <a href="https://crypto.news/ordi-down-14-after-bitcoin-plunged-under-40k/">ORDI</a> to stay in the bullish zone, its RSI would need to stay below the 50 mark. 
ORDI’s price surge comes as the flagship cryptocurrency, Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>), <a href="https://crypto.news/bitcoin-surpasses-the-50k-mark-positive-sentiment-growing/">surpasses the $50,000 mark</a>.&nbsp; 
On the other hand, the total open interest (OI) in ORDI perpetual contracts witnessed a 22% increase in the past 24 hours — surging from $116.8 million to $142.5 million, according to Santiment.&nbsp; 
Moreover, the percentage of the ORDI Binance funding rate increased from 0.01% to 0.02%, per Santiment. This shows that the amount of long-position futures contracts slightly increased and traders are betting for a further price surge. 
 Read more: <a href="https://crypto.news/changpeng-zhaos-criminal-sentencing-postponed-to-late-april/"> Changpeng Zhao’s criminal sentencing postponed to late April </a>

ORDI emerges as the top gainer, high volatility expected

crypto.news

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