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A digital currency explodes and rises by more than 150% in a week
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Economy News-Baghdad
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Added 09/03/2023 - 2:28 PM
https://economy-news.net/content.php?id=36156
Market
Economy News-Baghdad
In recent days, CYBER has seen a significant rise in value. It rose to $9.60 according to CoinMarketCap. Which is an amazing increase of over 150% in just one week. With a global market capitalization of $114,076,592 USD, CYBER has caught the attention of both analysts and cryptocurrency enthusiasts.
CYBER PRICE VARIATION BETWEEN TRADING PLATFORMS What has raised eyebrows in the cryptocurrency community is the huge difference in price between different trading platforms. CYBER is trading at $14.7 on Upbit. It is 58% higher than its price on Binance, at $9.3. While traders and investors try to take advantage of these differences. Concerns have been raised about market efficiency and arbitrage opportunities as a result of this large price gap.
Not only that, but Upbit is said to have captured the attention by overtaking Binance as the largest holding of the cryptocurrency. According to Scopescan. Upbit holds an impressive 33% of the current circulating supply of the token. However, the initial price hike may have been driven by Binance's introduction of its "Simple Earn Cyber Quiz" promotion. Which highlights the impact of exchange initiatives on the price dynamics of cryptocurrencies.
In another surprising development, DWF Labs, a prominent player in the cryptocurrency space. By depositing 40,000 CYBER tokens, equivalent to about $360,000 at the prevailing market rate, on the Bithumb trading platform. This step, reported by The Data Nerd, adds . Another layer of intrigue to the position, taking into account the timing of the deposit.
The timing is particularly noteworthy as it comes on the heels of a significant price hike for CYBER. Analysts speculate that this deposit may be a strategic move. Which allows DWF Labs to capitalize on CYBER's recent boom while retaining a significant stake for potential future gains.
CYBER PRICE VS MARKET CORRECTION In 2023, Cyberconnect CYBER's blockchain project created a stir in the cryptocurrency world. It has established itself as a desirable investment in cryptocurrencies due to its resilience to market turmoil and steady growth. However, the significant price differences between the trading platforms have highlighted the need for caution and analytical insight in the cryptocurrency market.
Views 10
Added 09/03/2023 - 2:28 PM
https://economy-news.net/content.php?id=36156
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