SAFE Outperforms APE, Market Cap Soars After Upbit Listing

SAFE token recorded a massive 66% surge in value following its listing announcement on the Upbit exchange. The news triggered a trading frenzy as Korean investors bought the token.

Upbit, Koreas leading crypto exchange, introduced new trading pairs for SAFE, the multi-purpose utility token of the Safe{Core} ecosystem, against the Korean won (KRW), Bitcoin (BTC), and Tether (USDT). Trading began on October 24 at 6:00 PM KST.

Spotonchain Reports Increased SAFE Accumulation

According to Spotonchain, the number of first-time buyers saw a dramatic increase, with over 1.35 million SAFE tokens, valued at $2.24 million, bought within an hour of the Upbit listing announcement. Major purchases were reported on OKX, Bybit, and Uniswap exchanges as well. In total, these top buyers have already gained over $150,000, a 6.7% increase in their investments.

On the other hand, Apecoin [APE] surged 63% following the mainnet launch of ApeChain. The newly launched blockchain, developed by Yugalabs, aims to support NFT projects and expand the Bored Ape Yacht Club ecosystem. With additional utility and value built over time, Apechains rollout is expected to drive further price gains for APE. The surge reflects growing interest in meme coins and the potential of ApeChain.

Overall, these price action comes as part of a broader trend in the Korean crypto market, where exchanges like Upbit continue to drive momentum for digital assets. Alongside SAFE, tokens like AUCTION and BEAM also saw gains following the listing of new trading pairs. This wave of excitement in the Korean market underlines the growing influence of regional exchanges in shaping the global crypto landscape.

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