#ORCA rises over 12% as merger targets AI financing
Solana DEX Orca and lending protocol Loopscale have merged to form Formation, combining trading, lending, and treasury operations and targeting financing for AI, energy, robotics, and defense. Details of the merger have not yet been announced, and ORCA and xORCA will remain.
On the news, ORCA rose about 12% in 24 hours to $2.84, while trading volume doubled to $384 million.
There’s a short-term catalyst, but don’t rush to chase the rally—watch for further updates on the merger.
Solana DEX Orca and lending protocol Loopscale have merged to form Formation, combining trading, lending, and treasury operations and targeting financing for AI, energy, robotics, and defense. Details of the merger have not yet been announced, and ORCA and xORCA will remain.
On the news, ORCA rose about 12% in 24 hours to $2.84, while trading volume doubled to $384 million.
There’s a short-term catalyst, but don’t rush to chase the rally—watch for further updates on the merger.