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Today, the world’s largest cryptocurrency exchange, Binance, announced the listing of two new tokens – Across Protocol (ACX) and Orca (ORCA), with seed tag applied. The listings are set to commence trading today, on Dec. 6, 2024, with the trading pairs ACX/USDT and ORCA/USDT.
Deposits for both tokens are now open in preparation for trading. The seed tag signifies that these tokens represent innovative projects with potentially higher volatility and risks compared to more established assets.
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What are those?
Across Protocol is an Ethereum-based optimistic insured bridge, designed to facilitate seamless token transfers between Ethereum Virtual Machine (EVM) networks. It operates via a decentralized network of relayers that fund user deposits, secured by liquidity providers in a single pool on Ethereum. Refunds are processed using UMA’s Optimistic Oracle, ensuring both cost efficiency and speed for users.
Orca, on the other hand, is a general-purpose Automated Market Maker (AMM) on the Solana blockchain. It enables users to swap assets, provide liquidity and earn yield through a user-friendly interface. Orca also serves as a versatile tool for developers, allowing projects to integrate its swapping, farming and on-chain data capabilities directly into their decentralized applications.
Following the announcement, the price of ORCA and ACX tokens literally skyrocketed, gaining 83.83% and 223.53%, respectively, literally in minutes.
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Interestingly, both projects can be considered small in the crypto realm, which reflects the updated Binance policy regarding listings, with refusal to add high-market-cap projects with a small diluted supply and abnormal concentration among major holders. Perhaps that is why we see that both ORCA and ACX did not experience a sell-off after being listed on Binance, but rather the upward momentum continued.
