As a seasoned crypto investor with battle-tested nerves and a knack for spotting opportunities amidst market volatility, I find myself intrigued by the recent surge of ACX and ORCA following their Binance listings. The sudden spike, especially in ACX, has been nothing short of breathtaking, reminding me of the early days of Bitcoin’s meteoric rise.
After Binance announced the listing of both ACX and ORCA tokens, complete with seed tags indicating increased volatility, there was a substantial increase in the value of these tokens on the market.
Binance has made an announcement that it will start trading for Across Protocol’s ACX token and Orca’s ORCA token from December 6th, 3 PM UTC. Traders can engage in spot trading for these tokens from this date. The pairs available for trading on Binance are ACX/USDT and ORCA/USDT. Withdrawals will be enabled a day later, on December 7th, also at 3 PM UTC.
It’s worth noting that Binance has announced they will label the mentioned tokens as “seed projects” at the time of listing. These “seed projects” are identified by Binance as relatively newer endeavors, potentially offering higher volatility and risk compared to established tokens listed on their exchange.
Immediately following the announcement, the prices for both tokens experienced a substantial increase. As per CoinGecko’s data, Across Protocol’s token surged approximately 147% after being listed on Binance (BNB), peaking at an all-time high of $1.44.
Currently, as I’m typing this, ACX is being bought or sold at approximately $1.41. Over the past seven days, its value has surged by an impressive 257.1%. The market capitalization for Across Protocol’s token stands at around $647 million, while its fully diluted trading volume reaches a staggering $1.4 billion.
Furthermore, there was a significant surge in the token’s trading activity, as it rose by an impressive 2,227% compared to the preceding trading day. This suggests that the Binance announcement attracted a larger number of traders towards this particular token.
As a crypto investor, I noticed that the Binance listing had a similar impact on ORCA, the native token of Orca, a decentralized exchange on Solana (SOL). In just 24 hours following the trading, ORCA’s price surged by almost 90%. However, unlike ACX, it didn’t touch a new all-time high. At the moment I am writing this, ORCA is being traded at around $7.74.
In simpler terms, ORCA currently has a total market value of $379 million and a fully expanded valuation of $718 million. Interestingly, the trading volume for the Orca token increased an impressive 1,933% compared to its trading activity from the day before.
To ensure continued access to trading on ACX and ORCA, users must complete quizzes related to Binance Spot and Binance Margin platforms every 90 days, reaffirming their understanding by answering correctly, and agreeing to the crypto exchange’s terms of service.
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2024-12-06 15:28