Orca DEX token sinks 6.3% to trade near its daily low

Orca DEX token sinks 6.3% to trade near its daily low on Monday

Orca DEX ($ORCA) fell 6.3% in 24 hours to $1.42 as of 2:41 p.m. ET Monday, near the bottom of its daily range.

The quick take

Price: $1.42, down 6.3% in 24 hours on Binance’s ORCA/USDT pair, and down 15.8% in seven days on CoinGecko.
Trigger: No new Orca announcement; the drop came as most Solana DeFi tokens fell together.
Watch: Whether $ORCA holds the $1.42 daily low that CoinGecko shows.

The Orca DEX token sinks 6.3% in 24 hours to $1.42 as of 2:41 p.m. ET on Monday, Nov. 2, on Binance’s ORCA/USDT pair. CoinGecko shows the same $1.42 price for Orca DEX ($ORCA) and a 6.2% daily loss. That puts $ORCA at the bottom of its 24-hour range of $1.42 to $1.52 on CoinGecko.

What happened

For most of the day, the slide was slow. Hourly closes on Binance stayed between $1.47 and $1.52 from Sunday afternoon until 11 a.m. ET on Monday.

Selling then picked up. The token went from $1.47 at noon ET to $1.42 by 2:41 p.m. ET, close to half of the day’s loss in under three hours.

The weekly picture is weaker. CoinGecko puts the seven-day loss at 15.8%, and CoinPaprika shows the same 15.8%.

Why it moved

We found no new announcement from Orca in the past day, so the cause is not confirmed. The drop came as most Solana DeFi tokens fell together.

On Binance, Kamino Finance ($KMNO) was down 9.2% in 24 hours, Raydium ($RAY) 5.5% and Jupiter Exchange ($JUP) 4.9%. Solana ($SOL) itself lost 3.0%.

The largest coin fell less. Bitcoin ($BTC) slipped 1.5% over the same 24 hours, according to LiveCoinWatch.

Who’s buying and selling

Pool data gives a mixed read. DexScreener counts 1,492 buys and 965 sells over 24 hours in the largest ORCA/SOL pool on Orca, which holds about $607,500 in liquidity.

GeckoTerminal’s top ORCA/SOL pool is a different one, with about $743,800 in liquidity. It shows 120 buys and 158 sells, so sellers led there.

Deposits on the exchange moved less than the token. DefiLlama puts Orca DEX’s total value locked at $288.7 million, down 4.1% in seven days.

What to watch next

The first level is the $1.42 daily low on CoinGecko; a move under it would set a new low for the day. Readers can also watch whether Solana DeFi tokens steady as a group, since they moved together today.

Bottom line: Orca’s token is down 6.3% in a day of broad Solana DeFi selling, with no project news behind the drop.

Price data: Binance (ORCA/USDT), checked against Jupiter.