Ordinals Price Prediction 2024: ORDI Price Analysis
What's next for Bitcoin Ordinals?
Key Takeaways
- ORDI reached an all-time high on March 5, but then started a downtrend.
- Bitcoin Ordinals has fallen over the last few weeks, but there is still interest in inscriptions.
- What’s next for ORDI?
- One ORDI price prediction says that the token can reach $102.48 next year.
ORDIs – Bitcoin Ordinals – have been on the move lately. Interest in what could be described as Bitcoin NFTs have been growing, and even the likes of Elon Musk have, albeit unwittingly, endorsed the tokens.
However, the success of Ordinals has had an unwanted impact on BTC traders. Bitcoin transaction fees have risen as a result of the renewed interest in ORDI.
This year’s launch of the Bioniq Ordinals market place has also given the token a boost, with it reaching an all-time high on March 5, 2024.
The coin then started to fall, and was still down in early September despite a recent growth spurt.
Ordi did not respond to a request for comment.
On Sept. 3 2024, ORDI was worth about $32.30.
Let’s take a look at our Ordinals price predictions, made on Sept. 3 2024. We will also examine the ORDI price history and talk a little about what Ordi is and what it does.
Ordi Price Prediction
Here are CCN’s Ordinals price predictions, made on Sept. 3 2024. Although we take the highest amount of care possible in making these forecasts, it is important to point out that crypto price predictions very often turn out to be wrong.
| Minimum ORDI Price Prediction | Average ORDI Price Prediction | Minimum ORDI Price Prediction | |
|---|---|---|---|
| 2024 | $35 | $40 | $50 |
| 2025 | $90 | $110 | $120 |
| 2030 | $60 | $70 | $80 |
ORDI Price Prediction 2024
The price of ORDI is in a descending triangle from the all-time high of $97 on March 4. As it approaches its apex, a breakout to the upside and the start of the next bullish phase are expected. The price targets for 2024 depend on its momentum.
ORDI Price Prediction 2025
If ORDI enters the next bull phase in 2024, it is expected to continue throughout 2025. This could lead to revisiting the all-time high or slightly surpassing it, making a new one.
ORDI Price Prediction 2030
If the bull market ends in 2025, as we are currently expecting, the price of ORDI should enter a multi-year bear market, reverting to some of its current values from the expected all-time high of $120. If this bear market ends in 2028, then in 2030, it should be in the mid-point of a new bull cycle.
Ordinals Price Analysis
By October 2023, ORDI’s price had stabilized around $3.50. It then went on an upturn, reaching an all-time high of $87.51 on March 5 this year. Following that, it fell, bottoming out at $26.50 on July 5.
However, there were some recoveries and a 26% price rise in early September could serve as a bullish indicator. However, it has still not caught up with its descending resistance level.
Ordinals Relative Strength Index (RSI): Is ORDI Oversold or Undersold?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish. On Sept. 3 2024, the Ordinals RSI was at around 52, indicating it was neither over-nor-undersold.
Ordinals Average True Range (ATR): ORDI Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On July 2 2024, ORDI’s ATR was about 2.88, suggesting low-to-average volatility.
Ordinals Price Performance Comparisons
Ordinals, very roughly speaking, exists in the same sort of space as NFTs and NFT collections. Let’s take a look and see how ORDI has been doing in comparison with other, similar, cryptos, and also compare it to Bitcoin.
ORDI Price History
Now, let’s examine some of the Ordi price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret an Ordi price prediction.
| Period | Ordinals Price |
|---|---|
| Last week (Aug. 27 2024) | $33.06 |
| Last month (Aug.3 2024) | $31.31 |
| Three Months Ago (June 3 2024) | $48.33 |
| One Year Ago (Sept. 3 2023) | $3.45 |
| Launch price (May 9, 2023) | $17.5799 |
| All-time high (March 5 2024) | $87.51 |
| All-time low (Sept. 11 2023) | $2.86 |
Ordinals Market Cap
The market capitalization, or market cap, is the sum of the total number of a crypto in circulation multiplied by its price. On Sept.3 2024, Ordi’s market cap was about $675 million, making it the 85th-largest crypto by that metric.
Who owns the most Ordi tokens?
On Sept. 3 2024, one wallet held 42.14% of the supply of ORDI?
Richest ORDI Wallet Addresses
As of May 27, 2024, the five wallets with the most ORDI were
- bc1p8w6zr5e2q60s0r8al4tvmsfer77c0eqc8j55gk8r7hzv39zhs2lqa8p0k6. This wallet held 8,850,000 ORDI, or 42.14% of the supply.
- bc1qggf48ykykz996uv5vsp5p9m9zwetzq9run6s64hm6uqfn33nhq0ql9t85q. This wallet held 1,675,352 ORDI, or 7.98% of the supply.
- bc1qqd72vtqlw0nugqmzrx398x8gj03z8aqr79aexrncezqaw74dtu4qxjydq3. This wallet held 989,781 ORDI, or 4.71% of the supply.
- bc1qz7rw2atrt3e8jrywva2y8xmka8lewalx8qazlxaq8xkn2xke0yyqvpel3e. This wallet held 650,112 ORDI, or 3.1% of the supply.
- bc1q8u9thhxvkjw9t8tf0sj6k0vwmk7jstc9z0f3at0r5xunxxp9f0pqmetg7x. This wallet held 612,586 ORDI, or 2.92% of the supply.
ORDI Supply and Distribution
| Supply and distribution | Figures |
|---|---|
| Maximum supply | 21,000,000 |
| Circulating supply (as of Sept. 3 2024) | 21,000,000 (100% of maximum supply) |
| Holder distribution | Top 10 holders owned 71.07% of supply as of Sept. 3 2024 |
From the Ordinals Whitepaper
In its technical documentation, or whitepaper , Ordinals says it is able to work “right now”.
It says: “Ordinals are a numbering scheme for satoshis that allows tracking and transferring individual sats. These numbers are called ordinal numbers. Satoshis are numbered in the order in which they’re mined, and transferred from transaction inputs to transaction outputs first-in-first-out. Both the numbering scheme and the transfer scheme rely on order, the numbering scheme on the order in which satoshis are mined, and the transfer scheme on the order of transaction inputs and outputs. Thus the name, ordinals.”
Ordi Explained
To put it simply, Ordinals are Bitcoin’s equivalent to non-fungible tokens (NFTs). The idea is that people can make inscriptions of data on Satoshis, the smallest denomination of BTC. There are 100 million Satoshis in a Bitcoin.
The ORDI token, which is based on the Bitcoin blockchain, represents Ordinals. Former Google employee Casey Rodamor founded Ordinals in 2023.
How Ordi Works
ORDI allows people to inscribe a Satoshi with information. As the whitepaper says: “Satoshis can be inscribed with arbitrary content, creating Bitcoin-native digital artifacts. Inscribing is done by sending the satoshi to be inscribed in a transaction that reveals the inscription content on-chain. This content is then inextricably linked to that satoshi, turning it into an immutable digital artifact that can be tracked, transferred, hoarded, bought, sold, lost, and rediscovered.”
ORDIs can be bought, sold, or traded.
While NFTs are created on a blockchain – usually Ethereum (ETH) – before getting stored off-chain, Ordinals are based on the Bitcoin blockchain itself.
Because they are based on Bitcoin itself, ORDIs are tokens, not coins. You might see references to such things as ORDI coin price predictions, but these are wrong.
Is Ordi a Good Investment?
It is hard to say. We do not know yet if the resurgence of Ordinals will be sustainable, or whether it is a flash in the pan. With its better-known equivalent, NFTs, in a downturn since last year, we will have to see if Ordinals can get widespread attention.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in ORDI.
Will Ordi go up or down?
No one can really tell right now. While the Ordi crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Ordi?
Before you decide whether or not to invest in Ordi, you will have to do your own research, not only on ORDI, but on other, related, coins and tokens such as BLUR or ApeCoin (APE). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
FAQs
Will ORDI reach $100?
It could do. DigitalCoinPrice says it can get there as soon as this year, while PricePrediction.net thinks it can get there in 2029. CrowdWisdom forecasts it to reach three figures in 2026.
It is worth remembering that ORDI has never traded at $100.
What is ORDI used for?
The Bitcoin Ordinals, or Ordi, platform allows people to make digital inscriptions on the Satoshi denomination of Bitcoin. ORDI can be bought, sold, or traded.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
