Solana DEX Orca’s ORCA token has seen a significant price surge as Upbit exchange recently announced its listing. In response to the significant development, the ORCA price skyrocketed by a staggering 170%, hitting the highest point this year.
Interestingly, the ORCA price today reached a yearly high of $5.1021 from a mere low of $1.56. This surprising uptrend is primarily driven by South Korean crypto exchange Upbit’s new trading support for ORCA.
Let’s unveil the ORCA price’s recent uptick and Upbit’s significant contribution to the token’s bullish trend.
In a surprising development, the South Korean crypto exchange Upbit, has announced trading support for ORCA, the native token of the Solana-based decentralized exchange (DEX), Orca.
On March 21, Upbit has confirmed the listing of Orca’s native token, ORCA, paired with KRW, BTC, and USDT on the Solana network, with trading set to begin on March 21 at 17:00 KST. This announcement has triggered a significant surge in the ORCA price, invoking a bullish sentiment.
Significantly, the ORCA price surge followed Upbit’s critical announcement. Upbit has officially declared its support for ORCA, with deposits and withdrawals set to go live within two hours of the announcement. Users will be able to start trading in another one hour.
However, Upbit has implemented certain restrictions to ensure a stable market. For instance, Upbit will restrict buy orders for ORCA for the initial five minutes. All orders, except limit orders, will be restricted for one hour. In addition, sell order prices will be capped at 10% less than the previous day’s closing price.
Though the ORCA price has been on a downtrend since December 6 when it hit a high of $8.70, the recent development has pushed the token to a bullish track. The ORCA token price touched the $5 mark for the first time in 2025.
Recently, South Korea has taken the initiative to strengthen its regulations over the crypto space. South Korea’s FIU is investigating the operations of unregistered crypto exchanges like KuCoin and BitMEX.
At press time, ORCA is valued at $3.86, marking a significant uptick of 143% in a day. In addition, the ORCA price has experienced notable hikes of 154% and 100% over the past week and month, respectively. This positive trend is further reflected in the staggering 4676% increase in trading volume, which currently stands at $355.7 million, indicating an optimistic investor sentiment.
According to analysts’ ORCA price prediction, the token is expected to have a potential pullback as the RSI suggests that the token is currently overbought. For analyst gemxbt, $3.50 serves as the critical support level, while $4.50 acts as the crucial resistance level for the token price. Though ORCA has broken out of a period of consolidation, it is poised for potential corrections.
Upbit’s ORCA listing comes following the South Korean regulator’s increasing scrutiny over the exchange for allegedly violating KYC rules. In response, Upbit operator Dunamu filed a lawsuit against the FIU to cancel the business suspension order.
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