Bull market signs emerge, old hands miss out, newcomers show off their trades
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Bull market signs emerge, old hands miss out, newcomers show off their trades
Bitcoin's ecosystem has a strong wealth-creation effect—where will the next ORDI emerge?
Navigating Web3 tides with focused insightsBy Jaleel, BlockBeats
Edited by Zhang Wen, BlockBeats
"Just woke up... opened my eyes, and everything's up again. ATOM at 4000, ETHS nearing 9000, Lightning Network TT at 3100, BRC420 Blue Box at 2700, ORDI at 50." After the usual GM greetings, group members began sharing the latest valuations of their portfolios.
These tickers—once dismissed by seasoned crypto veterans—are now causing regret among those accustomed to VC narratives and value-based investing. It feels familiar, reminiscent of the zoo days: truly breakout, yet genuinely painful.
Bitcoin Ecosystem Still Leading the Rally
Early yesterday morning, Bitcoin reclaimed the $40,000 mark. The crypto community has waited far too long—578 days—for this moment.
With continuous institutional inflows, anticipation around Bitcoin spot ETFs, and Binance reaching a settlement with regulators, Bitcoin’s price is testing upward, showing signs of breaking through $42,000. Over the entire year of 2023, Bitcoin has surged 139.9%, strongly proving that a bull market isn't a single moment but a sustained state—one we’ve clearly already entered.
The day after Bitcoin retook $40,000, its ecosystem naturally took center stage, experiencing broad gains across the board.
As the first brc20 token on Ordinals, ORDI surged past $54 this morning, marking a 24-hour increase of 36.28%. Just over the weekend, ORDI was trading below $30—nearly doubling in just two days.
Additionally, BSSB, the governance token of BitStable—a cross-chain DeFi protocol built on Bitcoin—rallied to $1.9444, up 105.27% over 24 hours. MUBI, the token for MultiBit—an interoperability protocol bridging ERC20 and BRC20—rose to $0.05466, gaining 41.01%. STX, the native token of Stacks, a Bitcoin Layer2 network, briefly surpassed $1.20, up 38.42% in 24 hours.
Clearly, after a brief cooldown, the Bitcoin Ordinals inscription market has rebounded. Yesterday, trading volume across major platforms reached approximately $15.94 million, more than doubling from the recent low of $4.94 million on November 26.
This massive wealth creation effect has prompted FOMO-stricken veterans to remark enviously: "Getting rich is all about timing and fate," quickly followed by urgent questions: "Bro, where's the next ORDI?"
Only Old-Timers Miss Out, Never the Newcomers
"Can I still get in now?" That’s the slogan of every bull market.
In this cycle, only TIA and SOL fit the traditional definition of a solid project favored by old-timers: strong teams, reputable VCs, Binance listings, and promising narrative tailwinds. Yet everything meme-related within the Bitcoin ecosystem has been completely unexpected.
Since its emergence in March, the Bitcoin ecosystem has faced persistent bias. Yet it seems determined to prove one thing: “If you have prejudice, we’ll keep rising until your bias disappears.”
A widely circulated screenshot today shows real people in the past declaring that Ordinals are dead. Early Bitcoin ecosystem participant @LeonidasNFT commented on social media: "These people missed out on joining an ecosystem that grew from nothing to $300 million in less than a year."
“Some college kid, junior year, holding 70 ATOMs and 50 ETHS”—this story has been spreading through communities lately. At current prices, this student’s holdings amount to roughly $700,000.
Old-timers will say it's too high, but newcomers will urge you to jump in.
Perhaps this is the biggest difference between old and new investors. Novice investors tend to be fearless and curious. In contrast, experienced investors, shaped by market cycles and downturns, develop respect and caution toward the market. They often exit positions quickly after small profits, especially after enduring the volatility of bear markets.
Thus, when a new ecosystem emerges, only old-timers get left behind—not the new ones. This may also explain why newcomers often enjoy a kind of "beginner’s luck" or protection period.
Drop the Bias, Embrace the 20,000x Gains
NextDAO is one of the earliest and most active communities discussing the Bitcoin ecosystem.
Shep, a core contributor to the NextDAO community, shared on the Sea Talk podcast how they accidentally discovered Ordinals back in February.
"I don’t remember exactly how we first noticed it, but as soon as I saw Ordinals, I thought, ‘This is something new—let’s pay attention and play around with it.’ There’s a saying in crypto: trade the new, not the old. Whenever something new appears, it never hurts to take a look."
As a programmer, Shep acknowledges that technically speaking, BRC-20 lacks sophistication—it’s arguably an inefficient way to issue tokens compared to Ethereum’s elegant smart contracts. Back then, many in the community were skeptical, viewing it as primitive, even regressive, like going back to paper-based accounting.
"But for me, the idea was incredibly imaginative. Issuing tokens on Bitcoin had been attempted before, but this was likely the largest-scale effort to gain genuine community consensus and attention. The entire Ordinals community was already watching closely."
"Everyone in our WeChat groups was discussing how to mint BRC-20 tokens. As soon as we found out, NextDAO jumped right in. We minted until 1 or 2 a.m., completely exhausted. It was brutal—there were no third-party minting services back then, so we had to do it manually. I managed about twenty mints before passing out. One guy in our group pulled an all-nighter and minted over sixty."
Minting one ORDI (each containing 1,000 tokens) cost between $2 and $3. With ORDI now trading at $50 per token, each mint is worth $50,000. Ten months later, if held without selling, this represents a 20,000x return.
Stay grounded, yet stay curious. The day that changes your life always starts off as an ordinary one.
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