Why Orca (ORCA) crypto is turning heads today?

Highlights

• The ORCA crypto is one of the unique auto market makers (AMM) protocols, which is built on the Solana platform.
• On 27 June, the ORCA crypto was witnessing a rally of over 23.88%, according to CoinMarketCap.
• ORCA crypto is among the first AMMs that was launched on the Proof of Stake (PoS) consensus.

The Orca (ORCA) has hit a purple patch of late. The token has consistently been amassing a rally of over 51% over the past fortnight or so and over 147% in the past week. Even on 27 June, the token has been witnessing a rally of over 23.88% and a volume gain of over 164% at 6:10 am (GMT +1), according to CoinMarketCap.

The ORCA crypto is one of the unique auto market makers (AMM) protocols, which is built on the Solana platform. Founded in 2021, the ORCA platform was co-founded by Yaturo Mori, and Grace Kwan and it offers the users the facility of swapping assets and allows the users to earn yield through an easy-to-use interface.

As it is powered by the Solana protocol, the ORCA crypto has substantially lower transaction fees and is among the first AMMs that were launched on the Proof of Stake (PoS) consensus. With its seamless and intuitive interface, the Orca token offers the users the unique opportunity to do transactions.

Why is Orca crypto rallying?

Although the exact reason for Orca’s rally is still hard to establish, it could be rallying largely on the back of the consistent rally that it has witnessed over the past 14 days or so. Besides, there were developments, such as the Solana protocol announced the launch of the Android flagship smartphone in collaboration with Osom. Branded as Saga, it is the first crypto-centric phone, which would allow users access to cryptos and NFTs.

The ORCA plays a role in Solana’s new phone as it will operate as one of the inbuilt cryptocurrency exchange providers to its users, where they can get exposure to other digital cryptos and NFT wallets.

Some of the key features of the ORCA protocol are that it is properly audited, and it is available to anyone for integration. As it is built on the Solana, it offers greater transaction speed and cheaper fees to its users. The liquidity providers will have 0.3% trading charges deposited into the liquidity pools after each transaction.

How is ORCA crypto’s price faring?

The ORCA crypto on Monday was trading at US$1.01 with a volume of US$1,09,03,308, according to CoinMarketCap. The Solana-based token had a fully diluted market cap of US $101,370,220 and a maximum supply of 100,000,000 ORCA coins in circulation. 

While the rally has been impressive, one crucial fact that market participants shouldn’t ignore is that it is still 95% down from its previous high of US$20.33, which it achieved in October last year. As the market is highly volatile at the moment, the investors would do well to ensure thorough market research before entering the crypto space. Any investment decision without proper research may result in financial losses.

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