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Solana-Based DEX Orca's Native Token Skyrockets 92% as Upbit Announces Listing
ORCA's price topped the $3 mark for the first time since Jan. 26, according to data sources TradingView and CoinGecko.
What to know:
ORCA, the token native to the Solana-based decentralized exchange Orca, saw a remarkable increase of over 90% on Friday after being listed by Upbit, South Korea's top centralized exchange.
The Korean exchange said it is listing ORCA-Korean won (KRW), ORCA-bitcoin (BTC) and ORCA-tether (USDT) trading pairs, opening doors for the local traders, known to transact huge amounts of money in the altcoin market, to take exposure to the cryptocurrency.
ORCA's price topped the $3 mark for the first time since Jan. 26, according to data sources TradingView and CoinGecko. The token has been in a downtrend since peaking above $8.70 on Dec. 6.
As of writing, Orca was the 11th largest Solana-based DEX, with assets worth nearly $250 million locked on the platform, according to data source DefiLlama.
Omkar Godbole
Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
