Altcoin Rise Following Listing News Left a Huge Profit for an Investor!

The altcoin listing of Upbit, South Korea's largest cryptocurrency exchange, left a huge profit for an investor.

Upbit's Stargate Finance (STG) listing drowned an investor in money, according to data cited by on-chain analysis platform Spot On Chain.

In the announcement made on its official website on May 30, Upbit announced that STG would be listed today at 12.45 GMT. Following this news, the STG price increased by over 70%.

The data revealed that the investor in question transferred 10.25 million STG worth $8.8 million to the cryptocurrency exchange Binance.

The investor purchased most of these assets on April 9 at a cost of $0.792. Thanks to the rise, he made a profit of approximately 800 thousand dollars.

According to CoinGecko data, STG, which has increased by 72% in the last 24 hours, is traded at $ 0.816 at the time of writing.