Binance Lists ACX and ORCA Tokens, Prices Surge Over 100%
On Friday, cryptocurrency exchange Binance announced the listing of Across Protocol #ACX and Orca #ORCA. The announcement caused prices of both tokens to increase by triple-digit percentages within an hour.
The tokens will be available for trading on December 6 at 13:00 UTC with pairs ACX/USDT and ORCA/USDT. Deposits are currently live, while withdrawals will commence on December 7 at 13:00 UTC.
To manage risk, Binance has tagged these tokens with a “Seed Tag,” indicating high volatility and potential trading risks. Users must pass a risk-awareness quiz every 90 days to trade these tokens and periodically reaffirm their agreement with Binance’s Terms of Use.
Across Protocol
Across Protocol (ACX) is a cross-chain token bridge that enables seamless transfers between blockchain networks. It utilizes UMA’s optimistic oracle technology to balance transaction speed and security. The protocol's co-development of the ERC-7683 standard provides a unified framework for cross-chain actions.
Following the Binance announcement, ACX’s market cap rose by 90% to $186 million. Its price increased by 131% in 24 hours to $1.36. Over the past year, ACX’s market cap has grown ninefold, highlighting its growth potential.
A notable investor profited $2.56 million shortly after the listing announcement. This whale purchased 12.03 million ACX at an average price of $0.12 between November 2022 and March 2024 and sold 2.4 million tokens for $2.85 million soon after the news.
Orca Decentralized Exchange
Orca (ORCA), a decentralized exchange native to the Solana blockchain, specializes in efficient token swaps within its ecosystem. Currently, it has a total value locked (TVL) of $365 million, down from a peak of $1.4 billion in November 2021 before the FTX collapse.
ORCA’s market cap is now $378 million, with its price nearly doubling to $7.02 within an hour of the Binance announcement. The token has gained over 90% in the past 24 hours, reflecting strong investor interest.
While ACX and ORCA experienced significant gains, the broader crypto market saw a slight decline. Bitcoin is trading at $98,300, down 4.2% over the past day. Investor focus is shifting towards a potential altcoin rally, contingent on Bitcoin dominance, which has dropped to 55 from a yearly high of 61.
In related news, Binance Futures plans to delist certain perpetual contracts, including MAVIAUSDT and OMGUSDT, effective December 16, following settlement completion. This announcement has led to a decline in the values of these tokens.