Binance Introduces Spot Trading of ACX And ORCA Pairs

Top digital asset service provider Binance has announced its intention to list Across Protocol (ACX) and Orca (ORCA). As is the tradition with the cryptocurrency exchange, a seed tag will be attached to the listing. For context, tokens with seed tags may have a different product or user base than established digital assets. 

Hence, Binance tries to notify its users of such tokens’ high volatility and potential trading risks. Users must pass a risk-awareness quiz every 90 days to continue trading ACX and ORCA. Also, they must periodically reaffirm their agreement with Binance’s Terms of Use.

Price of ACX And ORCA Spikes by 3 Digits

According to the announcement, ACX and ORCA trading will commence today, December 6, at 13:00 UTC with the spot trading pairs ACX/USDT and ORCA/USDT. A deposit for both tokens is now available in preparation for the trading session. Withdrawals will be open on December 7, 2024. The listing news has triggered some price gain for the tokens and the broader crypto market rebound. 

At the time of this writing, ACX had recorded a 106.84% increase in price and traded at $1.24. Its trading volume soared past $182 million and is 3,547.45% higher, at $149.2 million. Similarly, ORCA’s price has hit $8.78, corresponding with a 124.27% increase in the last 24 hours per CoinMarketCap data. Its trading volume is 2467.45% higher than its previous level.

Understanding Across Protocol And Its Operations 

Across Protocol is an Ethereum-based optimistic insured bridge allowing seamless token transfers between Ethereum Virtual Machine (EVM) networks. It utilizes a decentralized network of relayers that fund user deposits. Liquidity providers secure this in a single pool on Ethereum. Refunds are processed using UMA’s Optimistic Oracle. 

The aim is to balance cost efficiency, security, and user transaction speed.

ORCA And its Benefits to Developers 

ORCA is a decentralized exchange (DEX) native to the Solana blockchain. Its core focus is on efficient token swaps within the ecosystem. 

It is more of a general-purpose Automated Market Maker (AMM) that is a versatile developer tool. With Orca, users can swap assets, provide liquidity, and earn yield through a user-friendly interface.

In like manner, developers’ projects can integrate Orca’s swapping, farming, and on-chain data capabilities directly into their decentralized applications.

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