Upbit, a prominent cryptocurrency exchange in South Korea, has recently announced the listing of the Drift token. This move generated significant market excitement, resulting in the price of DRIFT skyrocketing and achieving a new all-time high.
What Does the Listing Mean for DRIFT Token?
On November 8, Upbit officially added the DRIFT token to its trading platform. Users can engage in trading the token against KRW, BTC, and USDT, with deposit and withdrawal services facilitated solely through the Solana network.
How Is Drift Protocol Making Waves in DeFi?
The price of DRIFT saw a remarkable 100% increase within a day of its listing, reaching a peak of $0.9747. The trading volume also surged by an impressive 1000%, indicating strong demand from traders.
- DRIFT’s listing on Upbit has brought significant attention to the token, enhancing its market presence.
- Recent Upbit listings have shown a trend of price increases for new tokens, with others like SAFE seeing an 88% rise.
- Despite a brief dip in derivative positions for DRIFT, the token maintains a crucial support level around $0.70.
With the listing of the Drift token on Upbit, the market has not only witnessed a substantial price surge but also an affirmation of its potential in the decentralized finance landscape. This event underscores the critical role that exchanges play in bolstering the visibility and liquidity of emerging crypto assets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/upbit-lists-drift-token-boosting-market-activity