The native token of Solana-based decentralized exchange (DEX) Orca, ORCA, experienced a meteoric 170% price surge after South Korean exchange Upbit announced its listing support. The token soared to a yearly high of $5.1021**, up from a low of **$1.56, driven by heightened trading activity and bullish market sentiment.
Key Drivers Behind ORCA’s Price Rally
Upbit’s ORCA Listing: A Catalyst for Growth
On March 21, Upbit confirmed the listing of ORCA/KRW, ORCA/BTC, and ORCA/USDT trading pairs on the Solana network, with trading commencing at 17:00 KST. The announcement ignited a rapid price increase, reflecting strong investor confidence.
Trading Restrictions Implemented by Upbit:
- Buy orders restricted for the first 5 minutes.
- All non-limit orders suspended for 1 hour.
- Sell orders capped at 10% below the previous day’s closing price.
Market Response and Technical Analysis
- 24-hour surge: 143% (Price: $3.86 at press time).
- Weekly/Monthly gains: 154% and 100%, respectively.
- Trading volume spike: 4,676% increase ($355.7 million).
Analyst Insights:
- Critical support/resistance levels: $3.50** (support) and **$4.50 (resistance).
- RSI indicator: Suggests overbought conditions, hinting at potential short-term corrections.
Regulatory Context: South Korea’s Crypto Crackdown
The listing follows increased scrutiny by South Korea’s Financial Intelligence Unit (FIU) on unregistered exchanges like KuCoin and BitMEX. Upbit’s operator, Dunamu, recently filed a lawsuit against the FIU to contest a business suspension order tied to alleged KYC violations.
FAQs: ORCA Price Surge and Upbit Listing
1. Why did ORCA’s price skyrocket?
The 170% surge was triggered by Upbit’s announcement of ORCA trading support, amplifying demand and market liquidity.
2. What are ORCA’s key price levels to watch?
Analysts highlight $3.50** as support and **$4.50 as resistance. Breaching these could dictate near-term trends.
3. How does Upbit’s listing affect ORCA’s future?
Long-term bullish potential depends on adoption, but short-term volatility is expected due to overbought RSI levels.
4. What restrictions did Upbit impose on ORCA trading?
Initial buy-order blocks, 1-hour limit-order exclusivity, and sell-price caps to stabilize the market.
5. Is South Korea tightening crypto regulations?
Yes, the FIU is investigating non-compliant exchanges while enforcing stricter KYC/AML measures.
ORCA’s Market Performance and Future Outlook
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Current Trends:
- Year-to-date high: $5.1021 (March 21, 2025).
- Historical peak: $8.70 (December 6, 2024).
Expert Predictions:
- Short-term: Pullback likely due to overbought signals.
- Long-term: Growth potential if Orca DEX gains broader adoption.
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Disclaimer: This content reflects market conditions and author analysis. Conduct independent research before investing. The publisher bears no liability for financial losses.