Safe Coin has increased by approximately 88 percent and continues the day with a 20 percent gain. The listing of the token by Upbit, one of South Korea’s leading crypto exchanges, caused increased interest from traders and investors. With strong demand, the price has risen significantly.
Upbit Listing Details
According to the official announcement dated October 24, South Korean crypto exchange Upbit has listed SAFE on the KRW, BTC, and USDT trading pairs. The exchange stated that investments and withdrawals made through networks other than the directed network are not supported.
It’s no wonder that demand in Asia suddenly pushed the token price up. We have seen that many cryptocurrencies experienced a greater increase with the Upbit listing than with the listing news on other exchanges. SAFE daily trading volume increased by 453% and positive movements may continue for a while.
Safe Coin Expectations
Listings on crypto exchanges are known to increase the pace of rise in the price of altcoins. For example, the price of Simon’s Cat (CAT) token on the Binance exchange rose almost 40% after its futures listing. This indicates that SAFE Coin may also earn more profits in the future.
Statistics of the SAFE token network also confirm the upward trend. According to Coinglass data, open interest in SAFE futures increased by 500% to $7.62 million. Additionally, derivatives volume increased 33% to $14.10 million. This data shows that the token is in a strong uptrend today.
The listing of SAFE Coin by Upbit both increased investor confidence and strengthened the token’s position in the market. Market participants think that the token may continue to gain value in the coming period.
This rapid price increase of SAFE Coin once again revealed how significant an impact listings have on crypto markets. Investors continue to follow ongoing uptrends in tokens following listings on major exchanges.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
