ORCA token demonstrated a significant price surge following the announcement of its listing on the Korean cryptocurrency exchange Upbit.
ORCA Price Surge after Listing
According to CoinGecko data, the killer-whale-themed token ORCA surpassed the $5 mark for the first time this year. As of press time, the Solana-based token has risen nearly 215% in the past 24 hours of trading to the current level of $5.07. The last time this price was noted was in December 2024. Throughout the past month, the token remained stable, fluctuating around $1, never exceeding $2.
Details of the New Listing
Shortly after Upbit, the largest South Korean crypto exchange by trading volume, announced it would be listing ORCA from March 21 at 17:00 KST, its price surged. The token will be available for trading with Bitcoin, Tether, and Korean won pairs. Users can begin depositing and withdrawing the token two hours after the notice was posted, which is around one hour before the platform starts providing trading support.
Reaction and Allegations Against Upbit
Moreover, Upbit will restrict buy orders for ORCA for five minutes after it begins trading support, and all types of orders, with the exception of limit orders, will be restricted for one hour after trading support starts. Amidst the news, the previous day’s closing price for ORCA is capped at 2,349 Korean won or around $1.60, nearly 70% below the current price. It is noteworthy that earlier today Upbit denied allegations requiring projects to pay a brokerage fee, stating that all listings go through an internal review without compensation.
The ORCA listing on Upbit resulted in a noteworthy price surge of over 210%, drawing attention to the token and enhancing its liquidity. Allegations of listing fees continue to stir controversy around Upbit, although the exchange denies these claims.
