ApeCoin surges 1,950% on South Korean crypto exchange Upbit By Cointelegraph
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On April 12, Yuga Labs’ ERC-20 token ApeCoin (APE) briefly surged to $90.00 from around $4.20 apiece on the South Korean cryptocurrency exchange Upbit before most gains were wiped out in a sharp sell-off. However, the token is still trading at $10.90 apiece at the time of publication, representing a significant premium of around $4.50 compared to other exchanges.
Currently, the only APE trading pair listed on Upbit is BTC/APE; it represents only a tiny portion of the coin’s trading volume, with around 4 million tokens changing hands during the day compared to APE’s overall circulation of 369 million tokens. It appears the spike was attributed to an overall retail frenzy and constriction of available trading routes on the exchange. On the same day, Upbit suspended the deposits and withdrawals of Ether (ETH) and ERC-20 tokens, pending the completion of the network’s Shanghai upgrade.
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On April 12, Yuga Labs’ ERC-20 token ApeCoin (APE) briefly surged to $90.00 from around $4.20 apiece on the South Korean cryptocurrency exchange Upbit before most gains were wiped out in a sharp sell-off. However, the token is still trading at $10.90 apiece at the time of publication, representing a significant premium of around $4.50 compared to other exchanges.
Currently, the only APE trading pair listed on Upbit is BTC/APE; it represents only a tiny portion of the coin’s trading volume, with around 4 million tokens changing hands during the day compared to APE’s overall circulation of 369 million tokens. It appears the spike was attributed to an overall retail frenzy and constriction of available trading routes on the exchange. On the same day, Upbit suspended the deposits and withdrawals of Ether (ETH) and ERC-20 tokens, pending the completion of the network’s Shanghai upgrade.
Continue Reading on Coin Telegraph
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