Orca DEX token climbs 5.0% in a Friday rally

Orca DEX token climbs 5.0% in a Friday rally that cools by night

Orca DEX ($ORCA) trades at $1.37, up 5.0% in 24 hours, as of 6:40 p.m. ET on Friday, Nov. 6.

The quick take

Price: $ORCA trades at $1.37, up 5.0% in 24 hours and down 11.4% over 7 days (CoinGecko).
Trigger: No announcement explains the move. Orca’s pools handled $252.5 million in 24 hours, the most of any Solana DEX (DefiLlama).
Watch: Whether the token holds above Thursday night’s $1.31 low while sellers outnumber buyers in its main pool.

What happened

The Orca DEX token climbs 5.0% in 24 hours to $1.37, CoinGecko data show as of 6:40 p.m. ET on Friday. Orca DEX ($ORCA) runs a decentralized exchange on Solana ($SOL). Jupiter’s price feed puts the token at $1.371, a gap of less than 0.1%.

The rally came early. On Binance’s ORCA/USDT pair, the token closed the 7 p.m. ET Thursday hour at $1.311. It rose almost every hour until a close of $1.413 at 10 a.m. ET on Friday.

It has eased since then. Binance showed $1.375 at 6:41 p.m. ET. CoinGecko puts the 24-hour range at $1.31 to $1.42.

Why it moved

We found no Orca announcement or news report from the last 24 hours that explains the move, so the cause is not confirmed. The gain beat the wider market. $SOL rose 1.2% in 24 hours, CoinGecko data show, and Bitcoin ($BTC) rose 0.2%, according to LiveCoinWatch.

Trading in Orca’s pools stayed strong. DefiLlama counts $252.5 million in Orca DEX volume in its latest 24-hour reading, the largest of any Solana DEX. That is about 11% of the $2.2 billion traded on Solana DEXs in the same window.

Orca’s own data show a close figure: $241.3 million in volume and $203,535 in fees. Activity is still lower than the day before. DefiLlama’s prior 24-hour reading was $326.5 million, so volume fell about 23%.

Who’s buying and selling

Sellers were busier in the token’s main pool. DexScreener shows 2,404 sells and 1,803 buys over 24 hours in the ORCA/SOL pool on Orca. That pool holds $556,436 in liquidity.

Total trading in the token reached $7.8 million in 24 hours, CoinGecko data show. Its market value stands at $83.4 million.

What to watch next

The first level is Thursday night’s low near $1.31, where the day’s climb began. The second is Friday morning’s high near $1.42, where the rally stalled.

The token is also still down 11.4% over 7 days. One strong day has not undone the weekly slide, and the pool data show sellers still active.

Bottom line: The Orca DEX token climbs on a busy day for its pools, but sellers still lead its main pool and the weekly loss remains.

Price data: CoinGecko