The number of first-time $SAFE accumulators is soaring. This surge follows a significant price jump of 73% in just one hour. The spike in interest comes after Upbit announced it would list $SAFE, according to Spot On Chain.
Investors See $150K Gain as SAFE Price Rises 6.7%
In this short period, the Overall Top 5 first-time accumulators have acquired 1,356,000 $SAFEs which are equivalent to about $2,240,000. More specifically, these purchases were made on sites such as OKX, Bybit as well as Uniswap. As a result, these accumulators have seen their investments grow by $150,000, marking a 6.7% increase.
Market analysts are now observing keenly. The increased rate of prices has led to this question; is the price surge sustainable? Will the momentum continue? As to the further behavior of $SAFE, the traders are divided in their opinions.
$SAFE Listing Sparks Optimism for Increased Demand
While some people think that its listing recently will increase its demand even more. Some people, however, explain that such high rates of price fluctuations are quite volatile. The situation might change as the number of investors in the market increases.
Therefore, $SAFE is now at a great phase, as reported by Spot On Chain. The fact that accumulation has gone up at the same time as the price indicates that more people are eyeing the asset. That is why investors should be careful. Much is still dependent on time to determine whether $SAFE will remain as strong as it has emerged in the market.
Source: https://blockchainreporter.net/safe-accumulators-surge-after-73-price-jump/