WalletConnect Token Rallies 36% Following Upbit Exchange Listing Announcement
WalletConnect Token (WCT) Rally
- Upbit announced WCT listing effective April 16 at 09:00 UTC.
- Trading pairs include Korean won, Bitcoin, and USDT.
- WCT has prior listings on exchanges like Binance, Bybit, OKX, and Bitget.
- The token surged 36% in one day, currently trading at $0.55, down from its peak of $0.58.
- Market cap stands at $100 million with a daily trading volume of approximately $600 million.
- Short interest increased; funding rate fell to 0.2% below zero, indicating bearish bets against WCT.
- Current funding rate is at 0.12% below zero, suggesting renewed optimism among traders.
- Overall crypto market cap decreased by 2.6%, now at $2.63 trillion.
Impact of Upbit Listing
- Other tokens also experienced price increases following Upbit announcements:
- Filecoin rose 8%
- VIRTUAL increased by 28%
- VeThor skyrocketed by 230%
- SAFE recorded a 75% rally in October 2024 post-listing.
- Upbit is the top crypto exchange in South Korea with a daily trading volume of $3.1 billion.