As a seasoned researcher who has closely followed the crypto market for years, I must say that today’s announcement by Binance to list Across Protocol (ACX) and Orca tokens is indeed an exciting development. The immediate surge in their prices, with ACX jumping 140% and ORCA climbing 95%, is a testament to the immense interest and demand within the crypto community for these innovative projects.
Today, Binance, the world’s largest cryptocurrency exchange, unveiled plans to list tokens from Across Protocol and Orca. These crypto tokens will be available for trading against USDT (Tether) in the spot market, reflecting growing interest within the crypto community. Following this announcement, the price of ACX skyrocketed by 140% and ORCA’s price surged by 95% instantly.
Binance Lists Across Protocol and Orca Spot Trading pairs
On December 6th, Binance declared that they would add the tokens of the cross-platform interoperability bridge Across Protocol and the decentralized exchange Orca to their platform. It’s important to note that these cryptocurrencies will be tagged as ‘seed’, indicating a higher degree of instability and potential risks associated with them.
At 13:00 UTC on December 6, these tokens will become available for trading. Users can engage in trading using the ACX/USDT and ORCA/USDT spot pairs. Furthermore, withdrawals for these cryptos will be accessible starting at 13:00 UTC on December 7.
Furthermore, the leading cryptocurrency exchange plans to incorporate the newly listed tokens into Automated Trading Systems (ATS) and Spot Mirror Trading within a day of their launch. Notably, Ethereum‘s Across Protocol and Solana’s decentralized exchange projects are highly innovative and have gained significant traction among crypto enthusiasts.
ACX Price Shoots 140%, ORCA Rockets 95%
As a crypto investor, I’ve noticed a remarkable surge in the value of Across Protocol (ACX) and ORCA following the Binance announcement. In both the spot and derivative trading markets, there’s been an immediate rush to purchase these digital tokens, creating a buzz that’s hard to ignore.
The price of ACX skyrocketed more than 140%, now at $1.41. Over the past 24 hours, its lowest and highest prices were $0.56 and $1.50 respectively. Moreover, there’s been a staggering 2268% increase in trading volume, suggesting overwhelming enthusiasm from traders.
As a researcher, I’ve observed an interesting trend in the market: major investors, including some notable ‘whales,’ are offloading their Across Protocol tokens. Just recently, one such whale divested a substantial amount – 2.4 million tokens, valued at approximately $2.85 million. This action was triggered by the token’s price surpassing $1, which created a profit of a substantial $2.56 million for this investor.
Significantly, Bybit introduced the ACXUSDT perpetual contract, providing a maximum leverage of 50 times. This marks the initial listing for an ACX perpetual contract.
Over the past day, ORCA’s price soared by an impressive 95%, reaching a peak of $7.84. The current trading price stands at $7.13. This surge was largely fueled by a staggering 2021% rise in trading activity.
Currently, the value of ORCA tokens held by market maker Wintermute stands at approximately $4.2 million. Interestingly, it was just 12 hours prior to this announcement that the market maker removed 125,000 ORCA tokens from Coinbase.
Binance has revealed that it will remove MAVIA, OMG, and BOND USD-Margined perpetual contracts soon, which could potentially spark worries about prices dropping.
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2024-12-06 14:36