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Safe Coin has experienced an impressive increase of approximately 88%, continuing the day with a 20% gain. The listing of the token on Upbit, one of South Korea’s leading cryptocurrency exchanges, has sparked increased interest among traders. The substantial demand has led to a significant rise in the token’s price.
Details of the Upbit Listing
According to the official announcement dated October 24, the South Korean exchange Upbit has listed SAFE in KRW, BTC, and USDT trading pairs. The exchange noted that investments and withdrawals made through directed off-chain networks are not supported.
It is not surprising that the sudden demand in Asia has driven the token price upwards. Many cryptocurrencies have experienced greater increases following Upbit listings compared to listings on other exchanges. SAFE’s daily trading volume has surged by 453%, and positive movements may continue for a while.
Expectations for Safe Coin
Listings on cryptocurrency exchanges are known to accelerate the upward momentum of altcoin prices. For instance, the price of Simon’s Cat (CAT) token on Binance rose nearly 40% following its futures listing. This situation indicates that SAFE Coin may also achieve further gains in the future.
Statistics for the SAFE token network also corroborate the upward trend. According to Coinglass data, open positions in SAFE futures have reached $7.62 million, reflecting a 500% increase. Additionally, derivative volume has climbed by 33% to $14.10 million. These figures demonstrate that the token is currently in a strong upward trend.
The listing of SAFE Coin by Upbit has boosted investor confidence and strengthened the token’s position in the market. Market participants believe that the token may continue to appreciate in value in the upcoming period.
The rapid price increase of SAFE Coin once again highlights the significant impact of listings on cryptocurrency markets. Investors continue to track the ongoing upward trends of tokens following listings on major exchanges.
