Written by: Shaofaye123, Foresight News
As the market strengthens, the wealth effect of new listings on Upbit is more obvious. The recently launched AGLD had a maximum increase of 150% on the first day, DRIFT reached 190%, and tokens such as SAFE, CARV, and PEPE also increased by 100%. The Formula team made hundreds of millions of dollars in this round of news trading. How can we grasp the new wealth wave on Upbit if we can't catch up with the program?
The UDC conference is a weather vane for Upbit's listing. According to statistics, the hit rate of listing is 76% from 2018 to 2023. On November 14, the UDC conference was held as scheduled. This article takes you to a quick look at the UDC participating projects.
UDC is a representative blockchain conference in South Korea that Dunamu has been holding since 2018. It aims to promote the development of the blockchain industry, the growth of the ecosystem and the popularization. It has been held for seven years. This year's UDC conference is themed "Blockchain: Driving Real World Change". Under the themes of trends, finance, policies, technology and culture, the process of blockchain expansion into various industries and the changes in reality are studied.
According to Layerggofficial data, about 66 projects participated in UDC between 2018 and 2023, of which 37 projects were already online at KRW Fair before participating in UDC. Of the remaining 29 projects, 13 were launched in the form of KRW pairs after UDC. (44.8%)
Why does the UDC conference have such a status? Where does Upbit's wealth effect come from?
As the largest exchange in South Korea, Upbit occupies a leading position in the Korean market in terms of trading volume and number of users, with a market share of about 73%. Korean investors can purchase cryptocurrencies directly through Korean won (KRW). The convenience of depositing funds and the great wealth effect have made the cryptocurrency trading volume in South Korea exceed the trading volume of the domestic stock market. This determines that new tokens on Upbit have a strong buying order. As an event hosted by Upbit's parent company Dunamo, the UDC conference is slightly smaller than KBW in terms of event time and number of participants, but its importance is self-evident. Among the projects that participated in the conference last year, tokens such as ZRO, MNT, and STG have been launched on Upbit this year, and their indicative effect still exists.
UDC 2024 Participating Projects
This year's UDC conference was held yesterday. Among the participating projects, Axelar, Taiko, Zetachain, Mantle, Cyber, etc. have been listed on Upbit. As of this year's conference, there are still 10 projects that have not yet been listed on Upbit, or have not yet launched KRW trading pairs.
Among them, the projects that have not been launched include SLP, HNT, GALA, NFT, and ROSE;
The projects that have been launched with BTC trading pairs but not with KRW trading pairs include: MKR, YGG, and IOTX;
The projects that have not yet issued tokens but have participated in UDC include: Linea and Magic Eden
Combined with the theme and trend of this year's UDC conference, compliance and AI are still strong narratives. Although Oasis Network did not participate in the UDC conference this year, with the help of AI narrative, ROSE has ushered in a wave of gains on November 5. In addition, South Korea pays more attention to the NFT and game markets, and Magic Eden's tokens are also likely to be launched on Upbit.
In addition to the forward-looking effect of the UDC conference, another Korean exchange, Bithumb, also has a certain correlation with Upbit's new listings. Influenced by the narrative, the two exchanges will focus on listing coins in a certain period of time, such as the launch of new AI tokens at the same time at the beginning of the year, and the current focus on Memecoin. In order to protect investors, Korean exchanges usually do not choose new coins with small market capitalization and short time. Most of the tokens listed on them are old coins that have been washed for a long time, have large market capitalization, and have relatively stable prices.
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