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Orca price fell 4.51% to USD 2.73 over 24 hours following its merger announcement with lending platform Loopscale. ORCA remained above the USD 2.50 support level after retreating from its recent gains.
The companies announced the merger on October 7, 2026, U.S. time, combining their teams under Formation to develop trading, lending and business financing services.
ORCA recorded strong gains before the latest decline. Historical CoinMarketCap market data showed the token rising from approximately USD 2.00 on October 4 to USD 3.19 on October 6. ORCA’s price then fell to around USD 2.85 on October 7 and traded near USD 2.73 the following day.
The token’s retreat followed a period of increased trading activity. According to analysis, CoinGlass data showed derivatives trading volume rising 239% to USD 616 million during the earlier rally. Open interest also climbed to USD 9.86 million as traders added positions.
Higher open interest reflected an increase in outstanding derivatives contracts. The figures covered the earlier rally, while the latest price update showed ORCA losing ground. Trading volume and open interest measure market participation, with neither metric independently showing the direction of traders’ positions.
Formation combines Orca’s Solana-based exchange infrastructure with Loopscale’s lending platform and investment vaults. Loopscale co-founder Luke Truitt will serve as chief executive. Mary Gooneratne will become chief operating officer, while Christopher Montagano will oversee strategy and legal affairs.
The combined company plans to help businesses create assets, secure financing and access trading markets. Its target sectors include AI, energy, robotics and defense. Formation also outlined plans to develop access to regulated U.S. capital markets as part of its broader financing strategy.
“Liquidity alone isn’t enough to scale an asset,” Montagano said. He explained that businesses also need credit and distribution, which the two platforms plan to provide through their combined services. Orca supplies the trading infrastructure, while Loopscale contributes lending and investment tools.
According to the companies, Orca has processed more than USD 550 billion in trading volume since 2021. Loopscale reported more than USD 150 million in deposits and over USD 2 billion in facilitated loans. Both protocols will remain foundations of the ORCA and xORCA token networks.
According to analysis, USD 2.50 remains a support level, while USD 3.90 represents upside resistance. ORCA traded USD 0.23 above the identified support at the supplied price of USD 2.73. The analysis linked the token’s ability to maintain its earlier upward trend to holding above USD 2.50.
Loopscale’s merger FAQ states that the platform will not launch a separate token. ORCA will serve the combined Formation ecosystem, and Loopscale points will continue accumulating before conversion later in 2026. The platform plans to announce further conversion details, while existing user positions continue without an asset migration requirement.
Formation plans to introduce new issuer tools and investment strategies over the next 12 months. The company said it is working with Figure, Shinhan Asset Management, Superstate, R3 and Securitize to bring assets to market and expand distribution. Planned products remain subject to applicable legal and regulatory requirements, including restrictions on availability across jurisdictions.
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