I noticed that many people are hedging with the rates.

Here's a tip: if a new coin is listed first on Korean exchanges like Upbit or Bithumb, make sure to wait for the official opening of the Korean exchange before hedging. Because during the opening of a new coin, all exchanges do not allow withdrawals. Only on-chain and airdrop tokens can be transferred to Upbit. At this time, there is a high probability of a premium on the Korean exchange, which will drive other exchanges to follow suit. Previously, Avail also played this way.

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