ACX soars nearly 150%, reaching new all-time high after Binance listing announcement

ACX and ORCA saw a significant increase in their prices soon after Binance announced that both tokens were listed with seed tags to warn users of potential higher volatility.

In a recent announcement, Binance announced that Across Protocol and Orca native tokens have been listed on the exchange. Open trading for ACX and ORCA spot trading pairs will be available to investors starting December 6 at 13:00 UTC. The featured spot trading pairs on Binance will be ACX/USDT and ORCA/USDT. Withdrawals will be available the day after open trading begins, specifically December 7 at 13:00 UTC.

However, Binance stated that it will apply seed tags to the above-mentioned tokens after listing. Seed tags are used by Binance to indicate relatively new projects that may carry higher volatility and risk compared to other tokens on the exchange.

Shortly after the announcement was published, both tokens saw a significant increase in prices. According to data from CoinGecko, the token of the bridge platform Across Protocol jumped nearly 147% following its listing on Binance (BNB), reaching an all-time high of $1.44.

Price chart of ACX token after Binance announced its listing, December 6, 2024 | Source: CoinGecko

At the time of this writing, ACX is trading at $1.41. Last week, the price of this token increased by 257.1%. The market cap of the Across Protocol token is $647 million and its fully diluted volume is $1.4 billion.

Additionally, the token’s trading volume increased by 2,227% compared to the previous trading day; This shows that more investors are interested in the token after the Binance announcement.

The Binance listing had the same impact on ORCA, the native token of Solana (SOL) decentralized exchange Orca. ORCA’s price rose almost 90% within 24 hours of trading. Unlike ACX, it did not reach its all-time high. At the time of this writing, ORCA is currently trading at $7.74.

ORCA has a market cap of $379 million and a fully diluted valuation of $718 million. Trading volume of the Orca token increased by 1,933% compared to the previous trading day.

Since the tokens are marked with seed tags, users will need to answer questions on the Binance Spot and Binance Margin platforms every 90 days and agree to the crypto exchange’s terms of use to gain trading access to ACX and ORCA.

Disclosure: This article does not constitute investment advice. The content and materials on this page are for educational purposes only.

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