$HYPE got listed on Upbit, but fell 5% instead
South Korea's Upbit opened HYPE markets against KRW, BTC, and USDT at 3 p.m. today (Seoul time). Bithumb also listed a KRW pair the same day.
HYPE perpetuals, however, slid from 75.81 to a low of 70.58. They’re now at 71.10, down 5.4% over 24 hours.
The funding rate is 0.005%, and neither side seems in a hurry.
The broader market is also down, with ETH falling 4.6%, overshadowing the buzz around the listing.
My take: if 71 doesn’t hold, it’ll be another “listed at the top” moment.
Do you think Korean buyers can support the price, or has the good news already been priced in?
#HYPE
The above content does not constitute investment advice
South Korea's Upbit opened HYPE markets against KRW, BTC, and USDT at 3 p.m. today (Seoul time). Bithumb also listed a KRW pair the same day.
HYPE perpetuals, however, slid from 75.81 to a low of 70.58. They’re now at 71.10, down 5.4% over 24 hours.
The funding rate is 0.005%, and neither side seems in a hurry.
The broader market is also down, with ETH falling 4.6%, overshadowing the buzz around the listing.
My take: if 71 doesn’t hold, it’ll be another “listed at the top” moment.
Do you think Korean buyers can support the price, or has the good news already been priced in?
#HYPE
The above content does not constitute investment advice