As an experienced crypto investor with a knack for spotting trends and potential gains, I find myself intrigued by Binance’s recent addition of Across Protocol (ACX) and Orca (ORCA) to its platform. The immediate triple-digit percentage surge following the announcement is a clear sign that these tokens have strong potential.
On Friday, the prominent cryptocurrency exchange Binance disclosed that it would be incorporating two digital assets, Across Protocol (ACX) and Orca (ORCA), into its platform. This news led to a rapid surge in prices for both tokens, with triple-digit percentage increases observed within an hour of the announcement.
Starting from December 6 at 1 PM UTC, you’ll be able to trade the specified tokens. The pairs for trading will be ACX/USDT and ORCA/USDT. At this moment, deposits are active, giving users time to prepare before the launch. Withdrawals will become possible on December 7 at 1 PM UTC.
To minimize risk, Binance labels certain tokens using its “Seed Tag,” which signifies high volatility and significant trading risks. This label necessitates users to complete a risk-awareness quiz every 90 days in order to keep trading. Furthermore, users are required to regularly reconfirm their acceptance of Binance’s Terms of Use.
Across Protocol
Across Protocol (ACX) is a system that makes it simple to move tokens between different blockchain networks. This bridge uses UMA‘s optimistic oracle technology to strike a balance between speed and security in transactions. Additionally, ACX has played a role in creating the ERC-7683 standard, which provides a common structure for cross-chain actions, thereby increasing its attractiveness.
After Binance made an announcement, ACX’s market capitalization jumped by 90%, reaching a value of $186 million. Simultaneously, the price of the token skyrocketed by 131% within the last 24 hours, peaking at $1.36. Over the course of the past year, the token’s market capitalization has experienced a staggering ninefold increase, demonstrating its strong potential for growth.
It’s worth noting that a sharp increase in ACX value resulted in significant gains for one investor. This individual had bought 12.03 million ACX units at an average price of around $0.12 between November 2022 and March 2024. Not long after the listing announcement, they managed to sell 2.4 million tokens for approximately $2.85 million.
Orca Decentralized Exchange
On the Solana blockchain, there’s a well-known decentralized exchange called Orca (ORCA). This platform is specifically designed for smooth and efficient token exchanges within its ecosystem. With a total value locked (TVL) of $365 million, Orca continues to hold significant influence, even after experiencing a drop from its record high of $1.4 billion in November 2021, before the FTX incident occurred.
As an analyst, I’m observing a significant surge in ORCA’s market position. Currently, its market capitalization is sitting at approximately $378 million. Remarkably, within an hour of Binance’s announcement, the token’s price nearly doubled to $7.02. This rapid growth translates to a staggering 90% increase over the past 24 hours, indicating robust investor interest and enthusiasm for ORCA.
On Friday, ACX and ORCA were the main attractions, but the wider cryptocurrency market experienced a minor decline. Currently, Bitcoin is being traded at approximately $98,300, representing a 4.2% drop over the last 24 hours. The anticipation among investors revolves around an upcoming altcoin surge, which hinges on the dominance of Bitcoin. The dominance of the largest crypto has dipped to 55 after reaching a yearly high of 61, suggesting a possible altcoin surge might be imminent.
Recently, it’s been reported that Binance Futures intends to remove certain perpetual contracts, such as MAVIA-USDT and OMG-USDT, from their platform on December 16. Once the settlement process is finished, these contracts will no longer be available. This announcement has led to a significant decrease in the value of these tokens.
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2024-12-06 14:21