Orca returns to be among most-bought tokens for the past week
The post Orca returns to be among most-bought tokens for the past week appeared on BitcoinEthereumNews.com.
The most bought tokens for the past week belonged to DEX and DeFi projects, with ORCA appearing as the top gainer. Other leading narratives included L1, L2, memes and AI projects. Market cap growth singled out a selection of new top gainers in the past week. ORCA expanded by 62.3%, after breaking out from lows of $1.50. The Solana DEX project managed to reach $2.80, becoming one of the top gainers for the past week. The success of ORCA follows a revival of Solana-based tokens, including MEW and WIF. Other top tokens underscored recent trends in Web3 and decentralized finance. Helium and Jito also reflected the increased interest in Solana usage, as they benefited from transaction growth. OpenChat (CHAT) rallied ahead of its August 1st listing on Lbank and Bitrue. Ramses Exchange (RAM) rallied after a new incentive program launched, though the project is also extremely small and volatile. RAM has a fully diluted market capitalization of $22M, and is the riskiest token among this week’s gainers. Also Read: Jupiter takes up to 80% of Solana priority fees from JupSOL Maple Finance (MPL) also gained more than 54%, after gradually growing its volumes and value locked for months in 2024. In the case of ORCA, more than 11% of the tokens were traded in a single day, as the asset’s action accelerated. ORCA is yet to recover its trading volumes from the previous bull cycle, and the recent rally happens with just $15M in daily trades. ORCA is still the token of a relatively small Solana DEX, though still following the trend of increased trading. The Orca DEX carries under $300M in value locked, but also gains inflows from the Jupiter DEX aggregator. Solana-based projects are also trending as SOL approaches the $200 tier with further predicted growth in 2024. …
Filed under: News - @ July 23, 2024 5:20 pm