CAP breaks through 0.07 USDT; current price is 0.07318 USDT. The 24-hour gain is 36.22%, and the market cap is about $111 million.
It’s worth noting that since the Aug 6 launch on Upbit, CAP has already hit an intraday high of 0.03939 USDT. In less than ten days, CAP has accumulated a rise of about 85.8%, showing quite impressive short-term breakout momentum.
As the governance token of the stablecoin protocol Cap Labs, CAP’s current surge is clearly tied to the liquidity expansion brought by exchange listings. With Upbit serving as the main battleground for KRW trading, listing effects often draw large amounts of local capital into the market in the short term, which can push prices to more than double quickly.
However, after a large short-term rally, investors should also watch out for profit-taking and the risk of a pullback once the “listing good news” has been fully priced in. Whether CAP can hold its current level going forward will depend on whether trading volume can continue to expand and on further execution of the protocol’s fundamentals.
It’s worth noting that since the Aug 6 launch on Upbit, CAP has already hit an intraday high of 0.03939 USDT. In less than ten days, CAP has accumulated a rise of about 85.8%, showing quite impressive short-term breakout momentum.
As the governance token of the stablecoin protocol Cap Labs, CAP’s current surge is clearly tied to the liquidity expansion brought by exchange listings. With Upbit serving as the main battleground for KRW trading, listing effects often draw large amounts of local capital into the market in the short term, which can push prices to more than double quickly.
However, after a large short-term rally, investors should also watch out for profit-taking and the risk of a pullback once the “listing good news” has been fully priced in. Whether CAP can hold its current level going forward will depend on whether trading volume can continue to expand and on further execution of the protocol’s fundamentals.