Binance, the world’s largest cryptocurrency exchange has announced the listing of two new tokens – Across Protocol (ACX) and Orca (ORCA) with seed tag applied.
The listings have already commenced trading today, Dec. 6, 2024, with the trading pair: ACXUSDT and ARCAUSDT
Deposits for both tokens opened for trading in the later hours of Friday. Binance said the seed tag for both tokens represents innovative projects with potentially higher volatility and risks compared to more established assets.
According to TradingView, Across Protocol is an Ethereum-based insured project, created to enable smooth token transfers between Ethereum Virtual Machine (EVM) networks.
It functions through a decentralised network of relayers that finance user deposits that are safeguarded by liquidity providers in a single Ethereum pool. Refunds are handled via UMA’s Optimistic Oracle, which guarantees user speed and cost-effectiveness.
On the Solana blockchain, Orca is a general-purpose Automated Market Maker (AMM). Its user-friendly interface allows users to exchange assets, offer liquidity, and yield interest. It is also a flexible tool for developers, enabling projects to include its on-chain data, farming, and trading features straight into their decentralised apps.
Interestingly, after Binance made the announcement, the price of ORCA and ACX tokens literally skyrocketed, gaining 83.83% and 223.53%, respectively, literally in minutes.
Same Binance warned that both tokens pose a higher than normal risk, and will be subject to high price volatility, thus users are advised to DYOR (do your own research) and exercise sufficient risk management.
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