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As ORDI gains 10% in a week, is this BRC-20 token a good investment?

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As ORDI gains 10% in a week, is this BRC-20 token a good investment?

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

The world of BRC-20 tokens is heating up, and one project that’s been turning heads lately is ORDI – but is its recent 10% surge enough to make it a good investment?

While ORDI’s rise has been widely discussed, some traders believe that the 99Bitcoins Token could be an even more enticing prospect, thanks to its Learn-to-Earn model.

ORDI price analysis shows 10% weekly gains but bearish technicals

ORDI’s price action has been a hot topic this week.  This Bitcoin-based token is trading around $37.30 after a surprise 10% rally over the past seven days.

However, ORDI’s gains were even more explosive at one point, with the token surging as much as 28% before encountering selling pressure on Monday and Tuesday.

The initial rebound seems to have been sparked by ORDI tapping the strong support level around $33.

As ORDI gains 10% in a week, is this BRC-20 token a good investment? - 1

Regardless, ORDI’s mini-pump hasn’t been enough for the token to pass its 20-day exponential moving average (EMA), a key technical hurdle.

And despite the short-term price gains, ORDI is still creating a series of lower highs and lower lows on the daily chart – a pattern that usually signals a downtrend.

Adding to the bearish sentiment, ORDI’s spot trading volumes have dropped to just $122 million over the past 24 hours.

While still a respectable amount, the drying up of volume suggests the recent price rally may be running out of steam.

What is ORDI & why is it attracting so much attention?

ORDI is essentially a meme coin, yet it stands out from other joke tokens because it is built directly on the Bitcoin blockchain using an experimental technology called “Ordinals.”

This Ordinals protocol allows small amounts of data to be “inscribed” onto individual satoshis, the smallest units of Bitcoin.

It’s a revolutionary approach that introduces some new token capabilities to the world’s flagship crypto.

ORDI takes advantage of this ability and uses the BRC-20 standard.

This standard is akin to Ethereum’s massively popular ERC-20 standard, which has powered the rise of countless altcoins in the past few years.

As ORDI gains 10% in a week, is this BRC-20 token a good investment? - 2

However, BRC-20 is still in its infancy from a technological standpoint. The Ordinals protocol is barely a year old, and developers are still figuring out its potential use cases and their implications for the Bitcoin network as a whole.

In fact, there’s now an ongoing debate in the Bitcoin community about whether Ordinals actually goes against the coin’s core principles.

So, while ORDI’s rise has undoubtedly attracted attention, its long-term prospects will ultimately depend on the broader adoption of the Ordinals protocol.

Could 99Bitcoins Token be a better long-term BRC-20 investment?

While ORDI has been the talk of the crypto market this week, another BRC-20 token could prove to be a more enticing prospect – 99Bitcoins Token (99BTC).

This token is positioning itself as a disruptive force in crypto education.

One of 99Bitcoins Token’s main selling points is its Learn-to-Earn model that rewards users for expanding their blockchain knowledge.

Users will earn 99BTC, the platform’s native token, by participating in quizzes, courses, and tutorials on the 99Bitcoins platform.

With this token, users can gain access to exclusive training modules, crypto trading signals, and community groups filled with like-minded individuals.

However, what truly sets 99Bitcoins Token apart is the plans to transition to the BRC-20 standard.

As noted in the project’s whitepaper, by bridging to the Bitcoin network, the development team hopes to leverage its security (and stability).

This could make 99BTC a more appealing prospect for those concerned about the risks on other chains.

Furthermore, the developers have laid out a strong tokenomics structure with allocations for staking, community incentives, and development – all aiming to promote long-term price growth.

No wonder 99Bitcoins token’s Telegram channel attracts hundreds of new members daily.

With over $1.1 million raised in presale so far and 99BTC tokens on offer for just $0.00104, there’s a growing belief that this BRC-20 token could be a sleeper hit that outperforms ORDI in the long run.

To learn more about this project, visit the 99Bitcoins presale website

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.