Space ID Token Soars By 17% After Upbit Listing

Space ID token increase coincided with a $5M transaction to Binance and the recent listing on UpBit which fueled the price increase.

ID the native token of the Space ID platform echoed a flood of speculative chatter throughout the worldwide crypto horizon on Friday as the token’s price skyrocketed astonishingly over the past 24 hours.

This was an exciting turn of events that occurred on Friday. Binance, a famous cryptocurrency exchange appears to have received $5 million in ID which is worth $3.1 million from a trader.

This transaction took place during the remarkable increase of the token. It would appear that the recent listing of the token on UpBit a cryptocurrency exchange based in South Korea, is contributing to the current increase in the price of ID.

Immediately after this, the trader’s massive dump to Binance resulted in the birth of fresh inferences for the coin which resulted in a significant amount of attention among lovers of the cryptocurrency market.

Following the information that was disclosed by SpotOnChain, the wallet 0z1c7b48 sent 5 million IDs which is equivalent to $3.1 million to Binance on February 9th. It has been sixteen days since the tokens were dispersed through a Space ID Distributor contract after being transferred to Binance.

The trader appears to be an investor in the Space ID project which is an intriguing development. However, it remains unclear if the address is connected to the Amber group. Amber Grou a prominent company in digital banking is one of the investors in the Space ID initiative.

In the meantime, the address was also unrelated to DWF Lab which was another investor in the project. However, the address described above acquired an ID from 0xddacad3b, a wallet tied to DWF Lab.

It would appear that this has quickly attracted the curiosity of traders and investors in the cryptocurrency market since the price of the ID token has increased by more than 15% this past day. In the previous 24 hours, the price of ID has increased by 17.82% and it is presently trading at $0.06048 as of the time of this publication.

Specifically, its weekly and monthly charts display extraordinary increases of 114.30% and 122.93% respectively. This is very noteworthy. In addition, the coin’s market capitalization reported a rise of 17.60%, hitting $282.49 million.

In this regard, it would appear that the recent increase in the price of ID is a result of the revelation that Upbit has listed the token on its exchange. The token quickly gained traction in the broader cryptocurrency market once Upbit listed it on its exchange.