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SIGN Rises 60% on Upbit Listing Despite Slow Start on Binance
SIGN's rise is similar to FIL which also rose on an Upbit listing this month.
What to know:
- SIGN rose from $0.08 to $0.129 after Upbit's listing announcement.
- 24-hour trading volume increased from $402 million to $898 million following the listing.
- It follows a trend of Korean exchange listings after FIL rose 30% earlier this month.
SIGN, the token linked to its namesake's multi-chain identity protocol, rose by 60% on Tuesday after being listed on Korean exchange Upbit.
The listing follows the token's release on Binance, where it became the first project to be selected by the Binance Alpha campaign.
STORY CONTINUES BELOW
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Trading was initially muted on Binance as it traded between $0.06 and $0.08. The Upbit listing boosted prices to $0.129 before receding to $0.11.
Trading volume also increased from $402 million in the 24-hour period prior to Upbit's listing announcement to $898 million, indicating notable interest among Korean traders.
The move follows a wider trend related to Korean exchange listings, earlier this month filecoin (FIL) rose by 30% following an Upbit listing alongside a similar rise in trading volume.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
