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- 1 Orca’s total value locked (TVL) has increased to over $86 Million.
- 2 Bonk token on ORCA DEX has skyrocketed to a record high of $0.0000065 on Monday.
- 3 The coin has been trading in an uptrend since October this year.
Orca, which is the largest decentralized exchange (DEX) on Solana, has been experiencing a surge in demand for tokens in its ecosystem. According to CoinMarketCap data, the volume in its ecosystem has increased significantly in recent months.
How is Orca Dex Showing Growth?
The data shows that 4 days ago, the exchange handled over $113 Million in transactions. This makes it the ninth-largest decentralized exchange in the world. This includes companies like dYdX, Uniswap, Vertex Protocol, and Kine Protocol ranking higher.
Wrapped Solana, Bonk, and Marinade Staked SOL are among the most active tokens on Orca. Solana and Bonk are two cryptocurrencies that have performed exceptionally well this year. Solana has surged from under $9 to almost $70, while Bonk has skyrocketed to a record high of $0.0000065 on Monday. The growth was coupled with a market cap of over $400 Million.
Orca’s total value locked (TVL) has increased to over $86 Million, making it a significant player in the Solana ecosystem. Moreover, the number of users in the ecosystem also rose as many of them are pleased with the strong performance of Bonk and other tokens.
Recently, a major token holder proposed transitioning key treasury wallets and smart contracts to the DAO. This is a crucial step in Orca’s decentralization process. All votes so far have supported this move which boosted the confidence of the long-term investors in the coin.
Prediction of ORCA Coin Price
At the press time, ORCA coin price is trading at $3.32 after trading in an uptrend since mid-October. The current resistance level is $3.265, while the raging bulls’ current support level is $2.59. At the same time, the 2nd support is at $1.88.
The moving averages have made a bullish crossover in October itself. The current levels for the 590-day and the 150-day EMA are $2.21 and $1.46, respectively. Meanwhile, the RSI shows a sudden rise in strength after rising from the neutral level of 50. Currently, the RSI is at the level of 61, while its SMA is at 64.
The price prediction per the current growth of the tokens in the ORCA dex is bullish. The boosted confidence of the investors is also a major reason for the current uptrend for the ORCA coin.
| Pivot | Classic | Fibonacci | Camarilla | Woodie |
| S3 | — | — | 2.67 | — |
| S2 | — | 1.13 | 2.95 | 0.10 |
| S1 | 1.74 | 1.84 | 3.22 | 1.97 |
| P | 3.00 | 3.00 | 3.00 | 3.11 |
| R1 | 4.75 | 4.15 | 3.77 | 4.99 |
| R2 | 6.01 | 4.86 | 4.05 | 6.12 |
| R3 | 9.02 | 6.01 | 4.33 | 8.00 |
Conclusion
Wrapped Solana, Bonk, and Marinade Staked SOL are among the most active tokens on Orca. Orca’s total value locked (TVL) has increased to over $86 Million, making it a significant player in the Solana ecosystem. The price prediction as per the current growth of the tokens in the ORCA dex is bullish.
Technical Levels
- Support Levels: $2.59 and $1.89
- Resistance Levels: $3.26 and $3.78
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
