ORCA Token Surges Following Upbit Listing: Trading Volumes Skyrocket

Published: March 21, 2025, 14:01 GMT+00:00

The cryptocurrency market is abuzz today as the ORCA token has seen a dramatic price surge, more than doubling in value within a short span following its recent listing on Upbit, one of South Korea’s premier cryptocurrency exchanges. This significant uptick has not only captured the attention of traders but has also led to an astonishing 5,700% increase in trading volumes over the past 24 hours.

Upbit Listing Ignites Trading Activity

In the wake of the Upbit listing, which introduced trading pairs for ORCA against the South Korean won (KRW), Bitcoin (BTC), and Tether (USDT), a staggering total of $405 million worth of ORCA tokens have changed hands. This figure accounts for 184% of the token’s circulating supply, highlighting the strong demand generated by the availability of ORCA on one of the largest exchanges by spot trading volume, which reports daily transactions exceeding $1.94 billion according to CoinMarketCap.

The recent trading surge has propelled ORCA into positive territory for the first time in the year, overcoming prior losses and posting an impressive 7.4% annual gain.

Market Dynamics and Performance

ORCA, which is recognized as a decentralized finance (DeFi) protocol on the Solana blockchain, has emerged as the 10th largest DeFi protocol in the network, with a total value locked (TVL) of approximately $245.8 million. Recent data from DeFi Llama reveals a remarkable surge in monthly trading volumes, which have skyrocketed from around $634 million per day in February 2023 to an astounding $20.3 billion, marking a 3,100% increase in just two years.

Despite these impressive statistics, ORCA still only processes about half of the trading volume that its larger counterpart, Raydium—the leading decentralized exchange on Solana—handles. However, with its current market cap standing at $219 million following today’s surge, ORCA is quickly closing the gap.

Resistance Levels and Market Sentiment

As ORCA’s price reached around $6 during early trading sessions in Asia, the prevailing sentiment remains cautious as it encounters significant resistance at the $4.8 mark. Recent analyses using trading charts indicate a temporary retreat from the peak, suggesting that while ORCA is in a strong upward trend, the market’s overall bearish sentiment, driven by a wider downturn across the cryptocurrency sector, could hinder sustained momentum.

As OMCA’s charts reflect heavy overbought conditions with a Relative Strength Index (RSI) of 82, traders are advised to remain vigilant. If further selling pressure manifests, investors may see a return to more bearish trends. A crucial threshold for short-term traders lies at the $4.8 mark; a failure to breach this could invite profit-taking from early buyers.

Future Outlook and Trading Strategies

The outlook for ORCA remains mixed as the token’s future price action faces the dual challenge of potential profit-taking and a broadly bearish market environment. However, traders are eyeing the prospect of a retest of the December highs of $8.67 per token if positive sentiment prevails in the short term.

For traders contemplating positions, those considering shorting should note the importance of setting stop-loss limits above the key resistance level at $4.8 to manage risk effectively. With market conditions remaining fluid, prudent position sizing is recommended to navigate the anticipated volatility.

In conclusion, while ORCA’s recent performance on Upbit has indeed sparked renewed interest and considerable trading activity, the path ahead may be fraught with challenges that will require careful strategy and analysis from market participants.

About the Author

Alejandro Arrieche specializes in drafting news articles that incorporate technical analysis for traders and possesses in-depth knowledge of value investing and fundamental analysis.

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