Optimism (OP) experiences notable growth following its listing on the South Korean exchange Upbit, impacting the token's price and trading volume.
Impact of Listing on Price
The listing of Optimism token on Upbit led to a 15% price increase, with an initial 8% spike at the start of trading at 16:30 KST on July 28.
Trading Volume Post-Listing
The trading volume for the token saw a sharp rise of 309.9%, indicating high investor interest. Upbit, holding over 80% of the South Korean crypto market, added OP to new trading pairs including KRW, BTC, and USDT.
Outlook and Potential Risks
The increased interest in the token could lead to both continued price increases and market corrections. Analysis of past trends in Layer-2 tokens, such as Arbitrum and Polygon, suggests the likelihood of future volatility.
In conclusion, the price increase of Optimism following its Upbit listing highlights the significance of such events in the cryptocurrency space, while investors must also consider potential risks.
