As a seasoned crypto investor with years of experience navigating the volatile and dynamic landscape of digital assets, I must admit that today’s announcement from Binance about the listing of Across Protocol (ACX) and Orca (ORCA) has piqued my interest significantly. The seed tag attached to these tokens indicates their potential for higher risk and volatility, but also the promise of extraordinary returns – a classic recipe that I can’t resist.
On December 6, 2024, Binance, the world’s leading cryptocurrency exchange, will start trading two newly added tokens: Across Protocol (ACX) and Orca (ORCA. These listings come with a ‘seed tag,’ indicating their early introduction to the platform. Trading for these tokens will be available in pairs such as ACX/USDT and ORCA/USDT, beginning on December 6, 2024.
Trading deposits for the given tokens have been made available, ready for transactions. The ‘seed’ label indicates that these tokens correspond to cutting-edge initiatives which may exhibit greater volatility and risk than conventional, well-established assets.
What are those?
Across Protocol is an Ethereum-based bridge specifically designed to make token transfers easy between different networks powered by the Ethereum Virtual Machine (EVM). It functions through a decentralized system of relays that safeguard user deposits with funds from a shared pool on Ethereum. Refunds are handled swiftly and affordably using UMA‘s Optimistic Oracle.
As a researcher, I’d like to highlight that Orca functions as a multi-purpose Automated Market Maker (AMM) within the Solana blockchain ecosystem. For users, it offers an intuitive interface for swapping assets, supplying liquidity, and generating returns. Furthermore, Orca emerges as a valuable asset for developers, enabling them to seamlessly incorporate its swap functionalities, farming opportunities, and on-chain data features into their decentralized applications.
After the announcement was made, the prices of ORCA and ACX tokens experienced a significant surge, increasing by approximately 83.83% for ORCA and an impressive 223.53% for ACX within mere moments.
It’s worth noting that both ORCA and ACX projects are relatively small within the crypto world. This aligns with Binance‘s recent policy shift, as they now prefer not to list high-market-cap projects that have a limited diluted supply and an unusual concentration of ownership among a few major holders. Consequently, neither ORCA nor ACX experienced a sell-off following their listing on Binance; instead, the positive trend continued for both.
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2024-12-06 15:22