Predicting Token That Are Likely to Be Listed on Upbit

The trading volume on the South Korean exchange - Upbit - has increased significantly in November. The enthusiasm of traders in the land of kimchi has driven the prices of many tokens to increase dozens of times. From here, many analyses predict the possibility that other tokens will also be listed on this exchange.

The following are observations and summaries from BeInCrypto about the projects that are predicted.

Signs to predict a token may be listed on Upbit

The most notable token that has recently seen a strong price increase when listed on Upbit is Drift (DRIFT). DRIFT caused a shock by increasing 300% in 24 hours, with trading volume surpassing even Uniswap (UNI). Layergg's analysis points out a few signs to watch out for to predict cases similar to DRIFT, including:

• The list of listings on Upbit is divided into Altcoin/BTC, Altcoin/KRW and Altcoin/USDT pairs. Among them, listings on the KRW pair have the highest price increase.
• A total of 16 projects have been listed in the past 3 months - Meme tokens account for (25%), DeFi and DEX account for 18.8%, platform tokens account for 12.5% and Layer tokens are 12.5%. Upbit also mainly lists Meme tokens.
• It is noteworthy that Upbit often lists tokens that are not yet on Binance, and then these tokens are also listed on Binance in the form of Futures Contracts. Examples of recent cases include SAFE, DRIFT, UXLINK, BRETT.

Layergg's analysis found that most of the projects participating in the Upbit D Conference will be listed in the KRW pair afterwards. The upcoming Upbit D Conference will be held on November 14th. Investors can follow the live streaming platform to identify the projects that will appear at the conference.

In addition, investors should also pay attention to BTC pairs, as they may be transferred to be listed with the KRW pair. Furthermore, some projects are said to have conducted test transactions with the Upbit wallet, including SCR, MOCA, ZRC. TAIKO recently, before listing on Upbit, also conducted internal test transactions.

The latest update, Upbit has just decided to list AGLD (on the list above), this token has immediately increased by 160% in a day.

Also Read: South Korea Launches Anti-Trust Investigation into Upbit Exchange

Trading volume on the Upbit exchange has increased 13 times in November

There are many signs showing how enthusiastic South Korean traders have been recently. The ranking of trending apps in South Korea shows that 3 out of the TOP crypto-related apps are included. These include the Bithumb exchange app, the Upbit exchange app and the KBank app (a bank associated with Upbit).

According to CoinGecko, the daily trading volume on the Upbit exchange has increased from $1.3 billion at the beginning of the month to over $18 billion in recent days. This more than 13-fold increase has been driven by the listing of meme coins and low-capitalization tokens on this exchange. In particular, the DOGE/KRW pair accounts for more than 35% of the trading volume on this exchange.

The recent interest in DOGE has been driven by the Government Effectiveness Department's initiative led by Elon Musk. The acronym D.O.G.E of this Department matches the DOGE ticker, causing DOGE to be constantly mentioned on social media.

Also Read: Elon Musk Co-Leads Trump's Government Effectiveness Department (D.O.G.E)

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