SAFE Price Skyrockets 88% On Major Listing, More Gains Ahead?

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As a seasoned crypto investor with a knack for spotting promising opportunities, I’ve always kept a keen eye on market movements and exchange listings. The recent surge of SAFE on Upbit has caught my attention, primarily due to its impressive 88% price jump within a day!

On Thursday, Safe, the biggest smart account platform on EVM, attracted significant interest from investors within the cryptocurrency sector as its own token’s price skyrocketed by approximately 88%. This surge followed the token being listed on the prominent South Korean crypto exchange Upbit, causing a stir among traders and investors. The speculation among crypto market participants is whether this coin will continue to move bullishly in the future due to its recent listing.

SAFE Secures Major Exchange Backing Sparking Optimism Over Price

According to an official statement from Upbit on October 24th, they are now offering trading for the cryptocurrency SAFE with Korean Won (KRW), Bitcoin (BTC), and Tether (USDT) as of today.

The exchange noted that transactions (deposits and withdrawals) outside of our primary network are not available as a service. Also, when trading begins, you’ll find that buy orders are temporarily limited for about five minutes.

Beyond this point, transactions involving both deposits and withdrawals can only be made to wallets where ownership confirmation has taken place. It’s important to note that when transferring substantial amounts of digital assets from unverified sources onto Upbit, users may be asked to provide details about the source of these funds.

Coin Price Shoots Up 88%

Despite the recent news from a prominent cryptocurrency exchange, the SAFE price has swiftly experienced a surge in value. The coin is now reflecting extremely optimistic market trends, and its on-chain data is showing signs of an upward trend as well.

Currently, the price of SAFE has experienced an impressive jump of 88%, reaching $1.75 at this moment. Earlier today, its lowest and highest prices were marked at $0.9199 and $1.78 respectively. The significant increase in trading activity is also evident, with a remarkable 453% surge observed in the asset’s intraday trading volume, following the listing on Upbit. Traders appear to be reacting favorably to this development.

Additionally, Coingass data revealed a significant 500% increase in the Open Interest (OI) of SAFE futures to $7.62 million. Furthermore, the volume of these derivatives rose by 33%, reaching $14.10 million. This data suggests a bullish trend for the token today and highlights its high level of activity in the derivatives market.

At the same time, it’s important to mention that when a crypto asset is listed on major exchanges like Binance, it often triggers a surge in its price. For instance, CoinGape media reported that Simon’s Cat (CAT) experienced a significant rise of almost 40% following its futures listing on Binance. Interestingly, the cat-themed token has seen even more growth, with gains reaching nearly 77% since then after its perpetual listing. This trend suggests that the price of SAFE might continue to increase in the future.

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2024-10-24 11:45