ORCA Token Surges Over 90% After Upbit Listing Announcement

ORCA native token, Solana-Based DEX surges over 90% on Friday, 21st March after Upbit, the largest South Korea Centralised Exchange announced its listing.

The Korean Centralised Exchange’s listing of ORCA-KRW, ORCA-BTC, and ORCA-USDT trading pairs is to allow local traders to access the cryptocurrency. As a result, ORCA’s price has surged past $3, a level not seen since January 26. The token had been in a downturn since its December 6 peak of $8.70.

Currently, Orca ranks as the 11th largest Solana-based DEX, with approximately $250 million in assets locked on the platform, according to DefiLlama.

What is ORCA?

ORCA is a user-friendly Decentralised Exchange (DEX) on the Solana blockchain, which enables seamless cryptocurrency trading. The exchange rewards governance and liquidity providers. Its innovative approach aims to enhance the decentralized trading experience.

It further makes use of an Automated Market Maker (AMM) model and features liquidity pools, such as “Double Dip Pools” and “Whirlpools”, to incentivize liquidity provision

Market Effect of ORCA’s Surge

The market effect of the ORCA token increase is significant. The listing by Upbit has opened doors for local traders to be able to access the cryptocurrency, leading to a substantial price surge.

The token being listed on a major exchange has led to an increased liquidity, trading volume, and visibility, which can drive up the price. This is because more traders and investors can now access the token thereby leading to a higher demand.

In addition, the surge in ORCA’s price can also have a ripple effect on the broader cryptocurrency market. As investors and traders take notice of ORCA’s gains, they may likely start to look for other similar opportunities, leading to increased interest and investment in other tokens and cryptocurrencies.

Analysts’ Corner

Sarah Lee, a cryptocurrency analyst at Samsung Securities has shared her thoughts on Orca’s listing on Upbit, according to her “ORCA’s Listing is a significant milestone, and the subsequent price surge is a testament to the platform’s growing popularity”

Other analysts have also shared their thoughts, James Kim, a block chain expert at KB Financial Group has noted that Orca’s innovative features, such as its liquidity pools and user-friendly interface, make it an attractive option for traders and investors.

Emily Choi, a crypto researcher at Korea University has this to say ‘We expect Orca to continue to gain traction in the market, driven by its strong technology and growing ecosystem”.