Ah, the ORCA! A creature of the deep, now soaring higher than a kite on a windy day, having ascended over 210% after the grand announcement from Upbit on this fine March 21. One might say it has become the darling of the crypto world, or perhaps just a fleeting whimsy of the market.
According to the ever-reliable CoinGecko, this killer-whale-themed token has breached the elusive $5 threshold for the first time this year. At this very moment, the Solana (SOL)-based coin is trading at a staggering $5.07, a price it last flirted with in December 2024. Who knew a whale could jump so high?
For the past month, ORCA has been as stagnant as a pond in winter, hovering around the $1 mark, never quite managing to breach the $2 barrier. But lo and behold! The price surge came right after Upbit, the largest South Korean crypto exchange, decided to grace ORCA with a listing starting at 17:00 KST. Timing, as they say, is everything!
As per the notice, our dear ORCA will be available for trading with Bitcoin (BTC), Tether (USDT), and Korean won pairs. A veritable buffet for the discerning trader!
Users can begin depositing and withdrawing this token two hours post-announcement, which is about an hour before the trading support kicks in. A delightful little game of patience, wouldn’t you agree?
However, beware! Buy orders for ORCA will be restricted for five minutes after trading support begins. And all types of orders, save for limit orders, will be restricted for a full hour. It’s almost as if they want to keep the excitement at bay!
Moreover, sell order prices will be capped at a minimum of 10% less than the previous day’s closing price. The previous day’s closing price for ORCA was a modest 2,349 Korean won, or around $1.60—nearly 70% below its current dizzying heights. Quite the leap, indeed!
ORCA, the native token of the decentralized exchange and automated market maker protocol, is a project built on the Solana blockchain. It offers users the tools to create tokens without the need for coding—because who has time for that? ORCA also serves as a governance token, allowing holders to propose agendas and vote on decisions. A true democracy in the world of crypto!
Earlier today, Upbit found itself in the midst of controversy, denying accusations that projects must pay a brokerage fee for token listings. They claim all listings undergo an internal review process without any financial compensation. A noble stance, indeed, but one must wonder about the truth behind the curtain.
The allegations, it seems, originated from Wu Blockchain, which suggested that several projects had to pay intermediary fees ranging from 3% to 5% of their total token supply. Ah, the intrigue of the crypto world!
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2025-03-21 12:41