ACX Coin and ORCA tokens saw triple-digit price increases on Binance’s platform, demonstrating their potential and resulting in large price gains for traders and investors.
The cryptocurrency market has experienced huge price increases for ACX Coin and ORCA tokens as a result of their Binance listing. Binance’s decision to introduce these coins to its platform not only demonstrated their potential, but also resulted in triple-digit price rises within hours.
Here’s an in-depth look at the advancements, token characteristics, and what they signify for traders and investors.
ACX Coin and ORCA Added to Binance
On December 6, 2024, Binance announced the launching of ACX crypto and ORCA coins, making them tradeable against the USDT pair. Trading for these tokens began at 13:00 UTC, and withdrawals became available on December 7 at the same moment.
These tokens were marked with Binance’s “Seed Tag,” which indicates high risk and significant price volatility. To trade ACX crypto or ORCA, users must complete Binance’s risk-awareness quiz every 90 days and accept the platform’s terms and conditions.
What Is ACX Coin?
ACX Coin, Across Protocol’s native coin, is an Ethereum-based cross-chain bridge. It is intended to provide seamless asset transfers between different blockchains while maintaining security and speed. The protocol employs UMA’s optimistic oracle technology and co-created the ERC-7683 standard, which unifies cross-chain transactions.
ACX Coin’s Market Impact
Following Binance’s announcement, ACX Coin had a 131% price increase, reaching $1.36 in under 24 hours.
Market Cap: ACX crypto’s market capitalization increased by 90%, reaching $186 million.
Trading Volume: Interest skyrocketed, with trading volume rising by more than 13,433% in a single day.
Early investors benefited from their listing on Binance. For example, a whale who had purchased 12.03 million ACX tokens at an average price of $0.12 sold 2.4 million tokens shortly after the announcement, profiting $2.56 million.
What Is ORCA?
ORCA is the native coin of the Orca decentralized exchange (DEX), which runs on the Solana blockchain. Known for its quick token swaps, Orca is a key platform within the Solana ecosystem, despite a fall in total value locked (TVL) from $1.4 billion in 2021 to $365 million now.
ORCA’s Performance After Binance Listing
ORCA also had a spectacular price increase of more than 90%, reaching $7.02 within an hour of Binance’s announcement.
Market Cap: The token’s market capitalization increased to $378 million.
Investor Interest: A 4624% rise in trading volume indicated increased interest in the token.
How Binance Boosted ACX Coin and ORCA
The Binance listing greatly boosted the visibility of ACX crypto and ORCA. It created trading opportunities for millions of Binance users and sparked a wave of speculative trading. The surge in demand resulted in considerable price increases, with ACX Coin reaching new highs and ORCA gaining significant traction in a short period.
However, Binance’s “Seed Tag” acted as a reminder of the potential threats. High volatility, which is common of newer projects, indicates that traders should use caution when trading ACX Coin or ORCA.
Bitcoin and Broader Market Trends
While ACX Coin and ORCA made significant gains, Bitcoin, the largest cryptocurrency, fell 4.2% to $98,300. Its market dominance dropped to 55%, from a yearly high of 61%. This decrease could pave the way for an altcoin rally, boosting the performance of currencies such as ACX crypto and ORCA.
At the same time, Binance Futures revealed plans to delist perpetual contracts for several tokens, including MAVIA/USDT and OMG/USDT, on December 16, 2024. This decision had a detrimental impact on the pricing of certain tokens.
Conclusion
The Binance listing of ACX Coin and ORCA has ignited a new surge of excitement in the cryptocurrency community. ACX Coin, an innovative cross-chain bridge, had a 131% increase in price, proving its popularity among traders and investors. Similarly, ORCA, a major Solana-based decentralized exchange token, had a 90% surge in value.
While the price activity demonstrates the potential of these tokens, the “Seed Tag” warning underscores the need for caution when dealing. As the general market waits for an altcoin rally, ACX crypto remains an intriguing initiative for anyone interested in exploring revolutionary blockchain technologies.
For investors, the tale of ACX Coin is one of development and potential, but it also includes risk. Staying educated and managing volatility are crucial for navigating this exciting new chapter in cryptocurrencies trading.
Also Read: Altcoin Season Index Hits Highest Level Since 2022: What It Means for Investors
