What’s Behind Solana DEX Orca (ORCA) Price Rise of Over 50%?

• Solana DEX Orca token price surged by 57% today
• The 910% increase in its trading volume indicates a strong price rally.

The broader crypto market is facing uncertainty with no significant ups or downs in the last 24 hours. Bitcoin is trading in the $81K price range, while Ether continues to drop below the $1,600 price level. The crypto fear and greed index reads 21, indicating a fear market sentiment

Several altcoins are showing significant gains, even though the top 10 cryptocurrencies are showing little to no gains. XCN, CRV, ORCA, FARTCOIN, and other altcoins are recording double-digit gains today. This present article explores the reasons behind Solana DEX Orca’s price surge in the last 24 hours

ORCA Price (Source: CoinMarketCap)ORCA is trading at $3.06 at press time with a 57.44% surge in the last 24 hours. The token price went as high as $3.2318 from the 24-hour lows of $1.8363. Its trading volume increased by more than 900%, which indicates a further price rally of ORCA

The breakout of the $2.15 resistance level triggered a sharp price hike of the ORCA token. This breakout of the resistance level further turned into a bullish run, supported by token accumulation. ORCA is experiencing an intended price surge backed by investor confidence and strong trading volume

Solana’s Orca Gains Investor Confidence Following Project Developments

Orca has been focusing on enhancing its offerings for the past few weeks. Orca Governance Council announced a live on-chain tokenholder proposal. The voting is about to end tomorrow, deciding whether the new proposal should be implemented.

The proposal also includes major changes to its tokenomics and includes a 25% token supply burning. This is one of the largest governance proposal voting processes in the crypto community, as Orca is one of the top Solana DEXs

Orca also offers KAST Solana debit card benefits to its community starting on Wednesday. The project also achieved several milestones to improve its features last month. Liquidity Terminal, Liquidity Locking, tx sender library, and card view on portfolio are some of its highlighted features

The present price surge of Orca is a combined effect of its investor confidence and its strengthening project fundamentals. Its relentless efforts to improve the project features by eth month is what is driving investors to accumulate ORCA tokens. The current price rally might witness a correction, but the overall growth of Orca is undeniable

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