Orca DEX daily volume climbs 21% as traders return on Friday

Orca DEX daily volume rose to $242.9 million in the latest 24-hour reading from DefiLlama, up 21% from $201.2 million in the reading before. Orca DEX ($ORCA), a decentralized exchange on Solana ($SOL), saw the jump on a Friday when most large crypto assets traded lower. Orca’s own protocol data confirms the busier day.

What happened

Orca is a place where users swap one Solana token for another. Each swap draws on pools of tokens that liquidity providers deposit, and those providers earn a cut of the trading fees.

DefiLlama counted $242.9 million in Orca trades in its latest 24-hour reading, taken at 16:12 UTC. The reading before showed $201.2 million. Orca’s own protocol data, read at the same time, shows $238.1 million in 24-hour volume.

The two figures sit about 2% apart, and their 24-hour windows do not line up exactly. Both point the same way: more trading than the day before. Orca’s data also lists $219,700 in trading fees and $28,600 in protocol revenue over the same stretch.

The new reading sits above Orca’s recent pace. DefiLlama puts its 30-day volume at $6.64 billion, or about $221 million a day on average. Its seven-day total stands at $1.30 billion.

Why it moved

Orca has not posted an announcement that explains the jump, so the cause is not confirmed. The rise did line up with a broad drop in crypto prices on Friday.

Bitcoin ($BTC) fell 4.2% to $68,630 over 24 hours, per LiveCoinWatch at 16:08 UTC. $SOL slipped 2.7% to $79.75 on CoinGecko and is down 12.0% over seven days. The volume data does not show who traded or why.

Across Solana, DefiLlama shows $1.50 billion in DEX volume over the same 24 hours. Orca handled about 16% of that. On DefiLlama’s Solana list, it ranks second behind PumpSwap at $290.2 million.

The busy day also says something about liquidity. Orca’s data puts its total value locked (TVL) at $250.3 million, while DefiLlama shows $268.2 million. On Orca’s own numbers, a day’s trading equaled about 95% of the money sitting in its pools.

Who’s buying and selling

The $ORCA token moved less than the exchange’s volume. It trades at $1.25, up 1.9% in 24 hours, in a range of $1.19 to $1.30, per CoinGecko at 16:11 UTC. It is still down 10.1% over seven days and 37% over 30 days.

Trade counts on the token’s main pools point in different directions. On DexScreener, the top $ORCA/$SOL pool logged 2,957 sells and 2,240 buys over 24 hours. GeckoTerminal’s top $ORCA/$SOL pool, a different pool, showed 354 buys and 185 sells.

With the two pools split, neither side clearly leads. Most of Orca’s $242.9 million in volume comes from swaps of other tokens, not from $ORCA itself.

What to watch next

• Whether Orca’s 24-hour volume holds above its 30-day average of about $221 million into the weekend.
• Fees for liquidity providers, which stood at $219,700 for the latest 24 hours in Orca’s data.
• Orca’s TVL, now $250.3 million on its own count, as token prices fall.
• Whether the $ORCA token keeps trading inside its $1.19 to $1.30 daily range.

Bottom line: Orca DEX daily volume climbed 21% to $242.9 million on a down day for crypto, while the $ORCA token stays 10.1% below its level a week ago.

Price data: CoinGecko.

Sources

• Orca protocol data: 24-hour volume, fees, revenue and TVL (Orca, read 16:12 UTC)
• DefiLlama: Orca DEX volume and TVL (read 16:12 UTC)
• DefiLlama: Solana DEX volume (read 16:08 UTC)
• CoinGecko: Orca (ORCA) price and range (read 16:11 UTC)
• CoinGecko: Solana (SOL) price (read 16:08 UTC)
• LiveCoinWatch: Bitcoin price (read 16:08 UTC)
• DexScreener: ORCA/SOL pool (read 16:08 UTC)
• GeckoTerminal: ORCA/SOL pool (read 16:08 UTC)

Not financial advice.