Orca DEX token gains 6.6% as its Solana volume ranks second

The Orca DEX token traded at $1.75 at 8:39 a.m. ET on Oct. 2, up 6.6% in 24 hours as Orca ranked second in Solana DEX volume.

The quick take

Price: $1.75, +6.6% ↑ in 24 hours and +45% ↑ over 30 days.
Trigger: No cause is confirmed; Orca DEX handled $357.9 million of Solana DEX volume in 24 hours, second only to PumpSwap.
Watch: Whether sell trades keep outnumbering buys in the main ORCA/SOL pool.

The Orca DEX token ($ORCA) rose 6.6% in 24 hours to $1.75 as of 8:39 a.m. ET on Oct. 2, according to CoinGecko. That beat Solana ($SOL), up 3.9%, and Bitcoin ($BTC), up 3.2% on LiveCoinWatch.

What happened

$ORCA traded between $1.62 and $1.75 over the past day, per CoinGecko, so it sat at the top of its daily range. Jupiter’s price feed showed $1.75 as well, a gap of just 0.14%.

The token’s market value reached $106.4 million, with $11.5 million in 24-hour trading volume. It is up 45% over 30 days.

It still sits 91% below its record high of $20.33. That peak came on Oct. 2, 2021, five years ago today.

Why it moved

Orca has not posted an announcement that explains the gain, so the cause is not confirmed. On Binance’s ORCA/USDT pair, the climb came in small steps rather than one spike.

The largest hourly gain there, about 2.4%, came between 1 p.m. and 2 p.m. ET on Oct. 1. After that, the price edged higher through the night and morning.

Trading on the exchange itself stayed busy. DefiLlama shows Orca DEX handled $357.9 million in Solana DEX volume in its latest 24-hour count. Only PumpSwap, at $371.2 million, handled more.

Who’s buying and selling

In the largest ORCA pool, paired with $SOL on Orca, sellers made more trades than buyers: 2,453 sells against 2,225 buys in 24 hours, per DexScreener. The count shows the number of trades, not their size.

That pool held about $738,700 in liquidity. Across all its pools, Orca DEX held $318.7 million in total value locked, according to DefiLlama.

What to watch next

Watch whether $ORCA holds near the top of its daily range after a strong month. Also watch Orca DEX’s share of Solana trading.

It handled about 14.4% of the $2.49 billion in Solana DEX volume in the latest 24-hour count. A steady share would show the exchange is keeping its place among the busiest venues.

Bottom line: The Orca DEX token outpaced Solana and Bitcoin over the past day, while the cause of the move remains unconfirmed.

Price data: CoinGecko, checked against Jupiter.