Space ID (ID) token on Upbit, the leading cryptocurrency exchange listing of Thereafter, it increased by up to 40%. This rise is interpreted as one of the clear evidence of the FOMO effect arising from the Korean market.
The price of the ID token rose rapidly, from its previous price of $0.26 to $0.366, recording a total increase of 40%. However, the current price is registering a slight correction and is hovering around $0.32. The transaction volume in the last 24 hours was 157 million dollars.
신규 디지털 자산 스페이스아이디(ID) 거래지원 안내
NEWS CONTINUES BELOW✅ 지원 마켓: BTC 마켓
📅 거래지원 개시 시점: 2023-11-30 18:00 예정🔗 공지 바로가기:https://t.co/Ons3hDBeDI #Upbit #ID pic.twitter.com/MPHqDPFZqd
NEWS CONTINUES BELOW— Upbit Korea (@Official_Upbit) November 30, 2023
This incident once again highlights the importance of the “Upbit listing” phenomenon and demonstrates the broader implications of the FOMO effect, which is particularly prevalent in the Korean market. Upbit has a staggering 80% market share in Japan. This supports the rise of assets listed by the exchange.
Space ID joins a number of similar examples before its rise, reminiscent of MINA’s more than 50% surge on October 24 following the Upbit listing. Space ID, described as the 30th Binance Launchpad project, made its debut in March 2023. At that time, approximately 104,000 Binance users locked up 8.6 billion BNB to participate in the Space ID launchpad, recording a staggering 1,170x oversubscription.
The meteoric rise pattern in tokens listed on Upbit reflects the intense interest and investment enthusiasm in the Korean market, increasing the impact of exchange listings on token values. The Space ID token’s trajectory is another case that exemplifies the power of strategic listings and the palpable FOMO effect in the ever-evolving cryptocurrency world.