In a dazzling surge, the ID token witnessed an extraordinary 40% spike, soaring to an impressive $0.366 from its previous valuation of $0.26, fueled by the excitement generated by Upbit's listing announcement. While the current value has slightly dipped to around $0.32, the 24-hour trading volume stands at a staggering $157 million.
This meteoric rise underscores the influential impact of the "Upbit listing" phenomenon, shedding light on the widespread significance of the FOMO effect within the dynamic Korean market. Upbit, commanding an astonishing 80% market share in the country, consistently sparks bullish market movements with each coin listing announcement.
Space ID's remarkable ascent mirrors similar trends, reminiscent of the over 50% surge witnessed by MINA on October 24 following its Upbit listing. As the 30th Binance Launchpad project, Space ID, launched in March 2023, capturing the interest of approximately 104,000 Binance users who staked a substantial 8.6 billion BNB during the Space ID launchpad event, with registrations oversubscribed a staggering 1,170 times.
The rapid appreciation of token values listed on Upbit underscores the intense investment enthusiasm prevalent in the Korean market, magnifying the impact of exchange listings on token valuations. The trajectory of Space ID's token surge serves as yet another compelling case, illustrating the formidable influence of strategic listings and the evident FOMO effect in the ever-evolving crypto landscape. 🌐💰
