Orca Price Skyrockets 28% in 24 Hours Amid $187M Turnover
Orca's price surged by nearly 28% in just 24 hours to trade near $2.10, according to data from CoinGecko.
The token's market cap is around $127 million, but its 24-hour turnover reached a substantial $187 million, resulting in a volume-to-market-cap ratio of approximately 1.5x.
This significant price move suggests that Orca has attracted a specific bid rather than benefiting from a broader market lift, as its price climbed by around 27% against Bitcoin and 28% against Ether within the same time frame.
The asset's concentrated liquidity model through Whirlpools, 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.