Orca Jumps 28% in 24 Hours Amid Record Solana DEX Activity

Orca (ORCA), a decentralized exchange on Solana (SOL), has seen significant gains in the past 24 hours. The token surged by nearly 28% to trade around $2.10, with a 24-hour volume of approximately $187 million against a market cap of around $127 million.

This puts the volume-to-market-cap ratio at roughly 1.5x, indicating intense buying pressure in the asset. ORCA also climbed about 27% against Bitcoin (BTC) and 28% against Ether (ETH), suggesting a token-specific bid rather than a broader market lift.

The surge comes as Orca's Whirlpools product, launched in 2022, competes with Raydium for Solana DEX share. Liquidity providers can deploy capital within set price ranges, improving fee yields versus standard automated market makers.