ORDI, the main ordinal coin from the Bitcoin Ordinals protocol, has experienced a significant surge in value, rising nearly 700% in the past 30 days and reaching an all-time high of $22.82 on November 15. The protocol, which enables NFT-like creations on Bitcoin through the BRC-20 standard, has led to rapid development in digital artwork and meme tokens. However, ORDI's high volatility poses a risk, with Binance warning users to exercise caution when interacting with the coin.

The renewed interest in Ordinals has also caused Bitcoin transaction fees to spike, reaching a six-month high of $15.86 per transaction. This increase has greatly benefited miners, who have made $44 million in block rewards and transaction fees, marking the highest levels since April 2022.