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Ordinals Price Prediction 2024: Will ORDI Thrive in New Crypto Era?

Last Updated February 1, 2024 11:50 AM
Peter Henn
Last Updated February 1, 2024 11:50 AM

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. 

The recent 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 late May.

Ordi did not respond to a request for comment.

On May 27, 2024, ORDI was worth about $39.61. 

But what is ORDI? How does Ordi work? Let’s see what we can find out, and also take a look at some of the Ordi Price Predictions that were being made as of May 27, 2024.

Ordi Price Prediction

Let’s examine some of the Ordi price predictions made on May 27, 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $87.46 $102.48 $298.40
Prediction #2 $57.20 $67.00 $174
Prediction #3 $16.50 $24.87 $154.04

First, CoinCodex  had a short-term ORDI price prediction that said the token would trade at $52.99 on June 1 before reaching  $132.28 by June 26. The site’s technical analysis was bearish, with 10 indicators sending bullish signals and 15 making discouraging ones. 

Ordi Price Prediction for 2024

DigitalCoinPrice  said that ORDI would reach $87.46 this year. CrowdWisdom  said it would get to $57.20 then. PricePrediction.net  thought ORDI would trade at $16.50 in 2024.

Ordi Price Prediction for 2025

Moving on, DigitalCoinPrice said ORDI would trade at $102.48 in 2025. CrowdWisdom thought it would be worth $67.00. PricePrediction.net said the token would be worth $24.87 next year.

Ordi Price Prediction for 2030

Looking at a more long-term ORDI price prediction, DigitalCoinPrice thought the token would be worth $298.40 in 2030. CrowdWisdom said it would trade at $174 that year. PricePrediction.net’s ORDI price forecast said it would reach $154.04 at the start of the next decade. 

Google Gemini Price Prediction for Ordi (as of May 27)

Google’s BardAI platform gave the following price prediction for Ordinals on May 27. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next three months)

  • Expected Price: $136.34
  • Factors to Consider:
    • Market Volatility: The cryptocurrency market is highly volatile, meaning prices can fluctuate rapidly based on various factors like news, regulations, and investor sentiment.
    • Project Development: The progress and adoption of the Ordinals protocol can significantly impact its price.
    • Overall Market Conditions: The broader cryptocurrency market health can influence ORDI’s price.

Medium Term (Next six months)

  • Expected Price: $110.49
  • Factors to Consider:
    • Market Volatility: The cryptocurrency market is highly volatile, meaning prices can fluctuate significantly in short periods.
    • Adoption Rate: Ordinals’ price heavily depends on its adoption rate within the Bitcoin ecosystem.
    • Regulations: Regulatory changes could impact the entire cryptocurrency market, including Ordinals.

Long Term (Next five years)

  • Expected Price: $186.60
  • Factors to Consider:
    • Adoption and Use Cases: If Ordinals protocol gains traction and offers valuable use cases, demand for ORDI could rise, driving the price up.
    • Overall Crypto Market: The general health of the cryptocurrency market can significantly impact ORDI’s price. If the market experiences a bull run, ORDI could benefit.
    • Regulations: Government regulations surrounding Ordinals could affect its usability and price.
    • Technological Advancements: New technological developments within the Ordinals project or the broader blockchain space could impact its value.

Recent Updates from Ordinals

In May, Ordinals said  OP_CAT opens up Bitcoin programmability in a way that enables Ordinals to compete with Solana (SOL) and Ethereum (ETH).

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.

ORDI price history
ORDI price in 2023 and 2024. | Credit: CoinMarketCap

ORDI first came onto the open market in May. On May 8, it was worth $29.16, It soon fell, though and by May 24 it was below $10. 

The following month saw further losses as the market struggled in the wake of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges. ORDI dropped to $4.66 on June 12. There was a recovery, and it spent much of July between around $6.20 and $7.90.

It dropped at the beginning of the next month. On September 11, it reached an all-time low of $2.86. There was some recovery and it broke past $5 on October 24. With the crypto market, and Bitcoin in particular, having a positive month in November, it was no surprise that ORDI shot up then. On December 6, it reached a high of $68.77 before sliding back down. 

There was another recovery later on in the month, and the token closed the year at $78.27. The rise continued in the new year and ORDI reached an all-time high of $90.96 on January 2. It then fell somewhat over the next month and, on February 1 2024 it was worth about $60.05. It then reached a new all-time high at $87.51 on March 5, 2024, before decreasing, reaching $39.61 on May 27, 2024.

At that time, there were 21 million ORDI in circulation, representing the total supply. This gave it a market cap of about $831.8 million, making it the 100th largest crypto by that metric.

Ordinals Historical Price Data

Period Ordinals Price
May 27, 2024 $39.61
May 20, 2024 $39.7647
April 27, 2024 $41.3416
February 27, 2024 $67.69
May 27, 2023 $10.0376
Launch price (May 9, 2023) $17.5799
All-time high (March 5, 2024) $87.51
All-time low (October 6, 2023) $3.7365

Ordinals Price Analysis

Ordinals Price Analysis
ORDI has been falling since March | Credit: Nikola Lazic/TradingView

After it came out, ORDI’s price stabilized, forming a support level at $3.50 in October 2023 and starting an uptrend. 

The price peaked at $93 on January 2 but then experienced a significant 46% decline to a low of $46 on January 25. Since this low, ORDI started to climb again but the rise ended as a double top in early March. 

A new downtrend emerged, with the price of ORDI falling to around $31 on May 1, a drop of 67% from March 6. Although ORDI could have been in a corrective phase, there are suggestions it could be about to make a breakout. 

If this happens, ORDI could start a new bull phase that could surpass its previous all-time high. However, this still needs to be confirmed. This is because there isn’t much reason to believe that the price could start this large uptrend. 

The daily chart MACD and RSI indicators are positive from May 1 with the rising price, but a new downturn could still be in play. This is why to be sure of the starting uptrend, we first need to see a breakout above $48 and a first higher low. 

Should this develop, we can assume the price has ended its wave four correction and started its larger wave five. In that case, ORDI could reach a new all-time high of $120 the end of this expected uptrend.

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.

Who is the Founder of Ordi?

Former Google employee Casey Rodamor  founded Ordinals in 2023.

Who owns the most Ordi tokens?

On May 27, 2024, one wallet held 41.12% of the supply of ORDI?

Richest ORDI Wallet Addresses

As of May 27, 2024, the five wallets with the most ORDI were

  • bc1qhuv3dhpnm0wktasd3v0kt6e4aqfqsd0uhfdu7d. This wallet held 8,635,172 ORDI, or 41.12% of the supply.
  • bc1qggf48ykykz996uv5vsp5p9m9zwetzq9run6s64hm6uqfn33nhq0ql9t85q. This wallet held 1,676,500 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 3.10% of the supply.
  • bc1q8u9thhxvkjw9t8tf0sj6k0vwmk7jstc9z0f3at0r5xunxxp9f0pqmetg7x. This wallet held 612,586 ORDI, or 2.92% of the supply.

Fact Box

Supply and distribution Figures
Maximum supply 21,000,000
Circulating supply (as of May 27, 2024) 21,000,000 (100% of maximum supply)
Holder distribution Top 10 holders owned 70% of supply as of May 27, 2024

From the 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.  

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. 

Ordinals Attention Tracker

A chart for the Ordinals Google search volume for the past 90 days cannot be displayed as Google said it has insufficient data to make one.

FAQs 

How many ORDI are there?

On May 27, 2024, there were 21 million ORDI in circulation, representing the total supply.

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.