ORCA’s price skyrockets after Upbit listing

1. Upbit listing fuels a frenzied rally

The catalyst for ORCA’s meteoric rise is its recent listing on Upbit, the fifth-largest spot trading exchange in the world, with daily volumes of $1.94 billion, according to CoinMarketCap. As of today, March 26, 2025, Upbit has launched trading pairs for ORCA, including ORCA/KRW, ORCA/BTC, and ORCA/USDT, making the token accessible to a whole new group of traders, particularly in South Korea, a market known for its avid interest in altcoins.

In just a short period, ORCA has seen $405 million worth of tokens change hands, representing a staggering 184% of its circulating supply. This remarkable turnover highlights the immense demand generated by the listing, with traders eager to tap into the liquidity and access that Upbit provides. As a result, ORCA’s trading volumes have skyrocketed, and its previously negative performance has turned into a 7.4% gain for the year.

2. ORCA’s growing role in Solana’s deFi ecosystem

ORCA is already a significant player in Solana’s thriving decentralized finance (DeFi) ecosystem. It currently ranks as the 10th largest DeFi protocol on the Solana blockchain, with a total value locked (TVL) of $245.8 million, according to DeFi Llama. The DEX has been steadily increasing its presence, with monthly trading volumes jumping by an impressive 3,100% over the past two years. Back in February 2023, ORCA’s daily trading volume stood at $634 million; by March 2025, this figure has surged to $20.3 billion.

While ORCA lags behind Raydium, Solana’s largest DEX, it processes about half of Raydium’s trading volume. With its market cap now sitting at $219 million after today’s rally, ORCA is gradually closing the gap with Raydium, which has a market cap approximately twice that size. This growth highlights ORCA’s increasing influence in Solana’s DeFi space, which benefits from the blockchain’s fast transactions and low fees.

3. Price action

ORCA’s price has mirrored its incredible trading volume, reaching as high as $6 during the Asian trading session today, before pulling back slightly. The daily ORCA/USD chart on Coinbase reveals that this price point represents a key psychological resistance level. Although the price has pulled back, today’s rally has reversed the previous downtrend, signaling strong underlying demand.

However, technical indicators suggest that ORCA may face challenges in maintaining this momentum. The Relative Strength Index (RSI) on the daily chart sits at 82, which is in overbought territory, indicating that the token may be due for a correction. Additionally, the MACD histogram has spiked to its highest level since December 2024, when ORCA reached its post-election high of $8.67. On the hourly chart, the $4.8 resistance level is proving difficult to break, as the price has been rejected twice at this point, signaling that short-term upward momentum may be limited.

4. Trading Strategy

For traders eyeing ORCA, the current setup presents both opportunity and risk. A short-term short position at current levels, with a stop-loss set above $4.8, could offer a favorable risk-to-reward ratio, assuming a downside target is identified. A confirmation of a bearish trend would come if the hourly RSI falls below its signal line, signaling a loss of momentum.

Conversely, a successful breakout above the $4.8 resistance could signal the continuation of the rally, with $6 as the next logical target. Given the high volatility, careful position sizing is essential to manage risk effectively. A sharp sell-off could erase gains quickly, but a sustained rally could result in substantial returns.

Conclusion

ORCA’s 5,700% surge in trading volumes and its price rally after the Upbit listing mark a pivotal moment for the Solana-based DEX token. While the $6 resistance remains within reach, technical indicators and market sentiment suggest that the next few days will be critical in determining whether ORCA can break through or if a pullback is imminent. Whether ORCA is able to reach its December high of $8.67 or faces a correction, its performance underscores the growing influence of Solana’s DeFi ecosystem and the power of strategic exchange listings.

Investors and traders should remain cautious and monitor key levels closely, paying attention to momentum indicators as they navigate this high-stakes opportunity. Will ORCA continue its meteoric rise, or will the pullback begin soon? Only time will tell.

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