Crypto News

Space ID ($ID) Surges 87% Following Upbit Listing

The price of Space ID ($ID) has experienced a significant surge of approximately 87% after the announcement of its listing on Upbit.

Recent on-chain reports have uncovered intriguing activity involving DWF Labs (DWFLabs), shedding light on a series of transactions. DWF Labs withdrew a substantial amount of $ID tokens, totaling 3.62 million ($1.73M), from OKX in a recent maneuver. 

Subsequently, a swift deposit of 2.45 million $ID tokens ($1.12M) was made to Binance via Amber Group. 

Insights from on-chain data analysis suggest that both DWF Labs and GSR Markets serve as market makers for Space ID ($ID).

GSR Markets reportedly received 23.2 million tokens for market making purposes on March 22, 2023, while DWF Labs was allocated 20 million tokens for market activities on April 14, 2023.

$ID Recent Price Action To Monitor

Historically, both DWF Labs and Upbit have been associated with volatile movements in various tokens, characterized by aggressive pumps and dumps. 

Despite this, Space ID continues to trade positively today, registering a 3% increase in the past 24 hours. Impressively, its 24-hour trading volume has surged by 133%, reflecting the heightened interest and activity surrounding the token.

The surge in Space ID’s price following its Upbit listing underscores the growing momentum and investor interest in the cryptocurrency space. 

As market makers like DWF Labs and GSR Markets continue to play pivotal roles, the dynamics of Space ID’s performance remain closely watched within the crypto community.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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