Almcoin Exchange :The Opportunities and Risks of Inscription

Almcoin Exchange :The Opportunities and Risks of Inscription

On November 7th, Binance officially launched the first inscription token of Bitcoin, ORDI. With this development, ORDI has finally made its appearance on the world’s largest cryptocurrency exchange, signifying that inscription tokens are making significant strides towards mainstream acceptance, with the inscription ecosystem rapidly extending to the public.

This is a new technology that we must acknowledge and affirm.

Checking the current centralized exchanges where ORDI is tradable, aside from Binance, platforms like Almcoin Trading Center have already launched it.

However, the impact of other exchanges launching it still falls far short of Binance’s influence — right after Binance launched ORDI, its price nearly doubled.

Given the current momentum of the inscription ecosystem, there’s a high probability that ORDI will break its previous high, but predicting when and how it will surpass its previous peak is difficult.

The characteristic of the inscription ecosystem is that assets come first, followed by applications. The current popularity of the ecosystem reminds me of the ICO boom in 2017:

Back then, project teams would tell a story or describe a vision, and the issued coins would be eagerly sought after. However, most of the stories told by these project teams eventually failed, and even the few successful projects took at least a year to launch. Among these launched projects, only a handful are still recognized and successful today.

Now, issuing coins using inscription technology has a lower technical threshold, and the variety of coins is more diverse: both fungible tokens similar to ERC-20 and non-fungible tokens similar to ERC-721 can be issued. This means that the means and methods of “fundraising” have been greatly enriched, also implying that the mix of good and bad projects will be more numerous and frequent.

In this situation, if this trend really takes off, I estimate that the future bubble will not be small and the aftermath of the bubble bursting will be just as messy.

Despite the potential high risks and significant bubbles, I still look forward to this technology bringing a new way of scene construction to the entire crypto ecosystem, and I am hopeful for the landing and flourishing of heavy-hitting applications.

Therefore, Almcoin Trading Center hopes our readers will focus more on observing the development of the inscription ecosystem from the perspective of ecological growth. Lastly, I remind our readers to be cautious of project risks and not to blindly FOMO. Especially at this time, we should consider: how many of the projects we have FOMOed into in the past have actually benefited us?

If you genuinely like a project and wish to participate, be sure to conduct thorough research and careful consideration before making a decision.