Detailed Analysis Report
Introduction
In the cryptocurrency market, $EOS was once highly regarded due to its high-profile ICO and initial market performance, but its subsequent development failed to meet expectations. This article attempts to analyze and compare whether 'ORDI will become the next EOS' from multiple perspectives, including technical characteristics, market performance, user adoption, and future potential.
Technical Characteristics and Uses of ORDI
$ORDI is the first BRC-20 standard token based on the Bitcoin Ordinals protocol, released in early 2023 (CoinGecko - ORDI). Its core function is to create and manage digital assets on the Bitcoin blockchain through the Ordinals protocol:
Ordinals Protocol: Allows data (such as text, images, audio, etc.) to be inscribed on Bitcoin's basic unit (Satoshi), enabling the creation of NFTs and other digital assets (Altify - Bitcoin Ordinals).
BRC-20 Standard: Similar to the ERC-20 standard on Ethereum but designed specifically for the Bitcoin network to create transferable tokens (Gate.io - What is ORDI).
Use Cases: ORDI is primarily used to support the NFT and token ecosystem on the Bitcoin network, providing a means to realize digital collectibles and tokenization on the Bitcoin blockchain. For example, users can create and trade Bitcoin NFTs through ORDI, expanding Bitcoin's use cases (Coinbase - ORDI).
Additionally, ORDI is viewed by some market participants as a meme coin, with its value relying more on community speculation and market sentiment (Gate.io - What is ORDI). Its total supply is 21 million, and as of March 2025, the circulating supply is the same, with a price of approximately $9.46 (CoinMarketCap - ORDI).
Technical Characteristics and Uses of EOS
EOS is a general blockchain platform designed to support large-scale decentralized applications (dApps), with technical characteristics including:
DPoS (Delegated Proof of Stake): A consensus mechanism that allows token holders to elect block producers, ensuring network control is distributed rather than centralized (EOS Network).
High Performance: EOS is designed to support millions of transactions per second while maintaining low latency, suitable for high-throughput applications (EOSIO).
Use Cases: EOS aims to be a general dApp development platform, supporting a variety of applications ranging from gaming to financial services (Investopedia - EOS Tokens).
EOS raised over $4 billion through ICO in 2018, becoming one of the largest ICOs at that time (Wikipedia - EOS.IO). Its total supply is 2.1 billion, and as of March 2025, the circulating supply is approximately 1.553 billion, with a price of about $0.4909 and a market capitalization of around $762 million (CoinMarketCap - EOS).
Market Performance Comparison
Market Performance of EOS
EOS's market performance in early 2018 was exceptionally notable, raising over $4 billion through its ICO, setting a record at that time (Wikipedia - EOS.IO).
Its market capitalization peaked at about $18 billion, but in the subsequent years, due to slow development progress, community splits, and overall market downturn, EOS's market capitalization significantly declined (CoinGecko - EOS).
As of March 2025, the price of EOS is approximately $0.4909, with a market capitalization of around $762 million, ranking 77th (CoinMarketCap - EOS).
Market Performance of ORDI
ORDI, as the first token of the BRC-20 standard, quickly attracted market attention after its release, especially at the end of 2023 (CoinGape - ORDI Token).
Its price once reached historical highs, with a market capitalization exceeding $1.6 billion, but subsequently experienced significant volatility (Reddit - Bitcoin Ordinals Hype).
As of March 2025, the price of ORDI is approximately $9.46, with a 24-hour trading volume of about $52.05 million and a market capitalization of around $198 million, ranking 187th (CoinMarketCap - ORDI).
From a market performance perspective, both ORDI and EOS have experienced volatility following rapid increases, but ORDI's market capitalization is currently much smaller than EOS's peak, and its market position has not reached the breadth of EOS's early days.
User Adoption and Ecosystem
Adoption of EOS users
EOS initially attracted a large number of developers and projects, but due to the complexity of technical implementation and governance issues, its dApp ecosystem did not flourish as expected (Investopedia - EOS Tokens).
Currently, EOS still has some active dApps, but its overall influence has significantly declined, and community activity has also decreased (Cointelegraph - EOS News).
Adoption of ORDI users
ORDI's users are primarily concentrated among enthusiasts of Bitcoin NFTs and BRC-20 tokens, especially in the context of the expanding Bitcoin ecosystem (BYDFi - Ordinals).
As an emerging application on the Bitcoin network, the ORDI ecosystem is still in its early stages and has not yet formed a large-scale user base (ALEX Lab - What is ORDI).
However, the security and decentralization characteristics of the Bitcoin network provide ORDI with unique advantages that may attract more users and developers (KuCoin - Ordinals).
From an ecosystem perspective, ORDI's potential lies in its expansion of the Bitcoin network, but it is still in the initial stages and cannot be compared to the early ecosystem scale of EOS.
Future Potential and Challenges
The potential and challenges of ORDI
Potential:
Technological Innovation: As a pioneer of NFTs and tokenization on the Bitcoin network, ORDI may attract more users and developers, especially in the context of the expanding Bitcoin ecosystem (Changelly - Ordinals Price Prediction).
Market Forecast: Some analysts predict that the price of ORDI may significantly increase in the coming years, potentially reaching $50.63 by 2030, with even more optimistic predictions suggesting it could reach $354.54 by 2050 (Benzinga - Ordinals Price Prediction). These predictions are based on market trends and the expansion of the Bitcoin ecosystem, but carry a high degree of uncertainty.
Community Interest: ORDI still has a certain level of discussion on Reddit and other social platforms, indicating a slowly growing community base (Coinbase - ORDI).
Challenges:
Market Volatility: The price of ORDI is highly volatile and easily influenced by market sentiment and Bitcoin prices (CCN - Ordinals Price Prediction).
Ecosystem Limitations: The success of ORDI relies on the acceptance of Bitcoin NFTs and BRC-20 tokens; if market interest in these use cases declines, its growth may be constrained (Cryptopolitan - Ordinals Price Prediction).
The Future of EOS
EOS remains an active blockchain platform, but its market position has not been restored to its early peak (Investing.com - EOS Analysis). Its challenges lie in governance models and development progress, failing to fully deliver on early promises, such as the expectation of supporting a large-scale dApp ecosystem (CryptoSlate - Examining EOS).
Comparative Analysis: Will ORDI Become the 'Next EOS'
To answer this question, we still need to clarify the meaning of 'the next EOS':
If referring to market speculation and price volatility:
ORDI has demonstrated a similar pattern: a rapid rise followed by volatility. This is akin to the early market performance of EOS, such as the rapid growth and subsequent volatility of EOS in early 2018 (Wikipedia - EOS.IO).
Therefore, from the perspective of market performance, ORDI may be seen as the 'next EOS,' especially during periods of heightened market sentiment.
If referring to technical influence and ecosystem scale:
The technical characteristics and goals of ORDI differ from those of EOS, as it focuses on digital assets on the Bitcoin network rather than a general-purpose dApp platform (CoinCentral - Top 10 Blockchain Oracles, although not directly compared, differences can be inferred).
EOS attempted to become a general blockchain platform, while ORDI's niche market may limit its broader impact. Therefore, from a technical and ecosystem perspective, ORDI cannot become the 'next EOS.'
Conclusion
In summary, ORDI and EOS are two different cryptocurrency projects with distinct technical characteristics and goals. ORDI, as a pioneer of NFTs and tokenization on the Bitcoin network, has unique potential, but its market performance and ecosystem are still in the early stages and cannot be directly compared to EOS's early influence. If 'the next EOS' refers to market speculation and price volatility, ORDI has indeed demonstrated a similar pattern. However, if it refers to becoming a general blockchain platform or achieving the market capitalization scale of EOS's early days, ORDI currently cannot reach that height.
