ACX and ORCA received a significant boost in their prices right after Binance announced the listing of both tokens with added seed tags to warn users of potential higher volatility.
In a recent notice, Binance announced listings for Across Protocol and Orca native tokens on the exchange. Open trading for ACX and ORCA spot trading pairs will be available to traders starting Dec. 6 13:00 UTC. The spot trading pairs featured on Binance will be ACX/USDT and ORCA/USDT. Withdrawals will be available the day after open trading starts, specifically on Dec. 7 at 13:00 UTC.
Though, Binance informed that it will apply seed tags to the aforementioned tokens upon listing. Seed tags are used by Binance to signify relatively new projects that may carry higher volatility and risk compared to other tokens on the exchange.
Shortly after the announcement was posted, both tokens saw a significant jump in their prices. According to data from CoinGecko, bridge platform Across Protocol’s token saw a leap of around 147% after its Binance (BNB) listing was announced, reaching an all time high of $1.44.
At the time of writing, ACX is trading hands at $1.41. In the past week, the price of this token has gone up by 257.1%. Across Protocol’s token has a market cap of $647 million and a fully diluted volume of $1.4 billion.
Additionally, the token’s trading volume increased by 2,227% compared to the previous day of trading, indicating that more traders were drawn to the token after the Binance announcement.
The Binance listing also had the same effect on ORCA, the native token of Orca, a Solana (SOL) decentralized exchange. ORCA’s price went up by nearly 90% within 24 hours of trading. Though unlike ACX, it did not reach a new all-time high. At the time of writing, ORCA is currently trading hands at $7.74.
ORCA has a market cap of $379 million and a fully diluted valuation of $718 million. The Orca token’s trading volume went up by 1,933% compared to the previous day of trading.
As the tokens are marked with seed tags, users will need to answer quizzes about the Binance Spot and Binance Margin platforms and accept the crypto exchange’s terms of use every 90 days to gain trading access to ACX and ORCA.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
