Orca Price Surges 28% as $187M Volume Tops Market Cap
Orca, the concentrated-liquidity decentralized exchange on Solana, has seen its price surge by 28% in just 24 hours. The token is now trading near $2.10 and has a market cap of around $127 million. The 24-hour turnover for Orca reached an impressive $187 million, which puts the volume-to-market-cap ratio at roughly 1.5x.
The price increase was not limited to Orca alone, as it also climbed about 27% against Bitcoin and 28% against Ether in the same time frame. This suggests a token-specific bid rather than a broader market lift. CoinGecko ranks the asset at 243 by market cap.
Orca operates a concentrated liquidity model through its Whirlpools product, which launched in 2022 and competes with Raydium for Solana DEX share. Liquidity providers can deploy capital within set price ranges, improving fee yields versus standard automated market makers.