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WCT officially listed on the leading Korean exchange Upbit today after a night of decline. Surprisingly, the purchasing power in the Korean market is quite strong, directly reversing the downward trend.
Market Characteristics
Independent Trend Maker: Upbit often shows trends independent of the global market, and last year there were even cases of significant price differences for Bitcoin on Upbit compared to other exchanges, allowing arbitrageurs to make substantial profits.
Altcoin Barometer: Many altcoins' price movements now depend on the Korean market, and Upbit's influence has surpassed that of Binance and Coinbase.
KYC Bonus: Traders with Korean accounts often seize the first wave of market opportunities.
Current Trend
Although WCT had previously shown weakness, it has clearly gained new investor attention since being listed on Upbit. Considering that Korean exchanges often exhibit independent trends, the subsequent movement is worth close monitoring.
Operation Reminder
Pay attention to the changes in trading volume on Upbit
Be aware of price difference opportunities between the Korean market and other exchanges
Beware of the risk of severe fluctuations when liquidity is insufficient
Summary
The Korean market is becoming an undeniable force in the crypto industry, and listings on Upbit often lead to unexpected market changes. Whether WCT can maintain its strength largely depends on how long the enthusiasm of Korean investors can last.
