Cysic (CYS) Skyrockets to New All-Time High on Upbit Listing: DetailsIn times when most major cryptocurrencies remain flatlined, every big move, even from smaller-cap alts, becomes news. Today’s example comes from Cysic’s CYS.
The token skyrocketed by over 60% from its low yesterday at $0.8 to a new all-time high of $1.30 before it was rejected and driven sharply south to $0.92 as of press time. The most evident catalyst for this was a big listing on South Korea’s major exchange, Upbit.
CYS/USDT. Source: TradingViewThe controversial part stems from the timing of the rally. The chart above demonstrates that the most substantial wick in the past 12 hours took place at 23:00 UTC on August 9 when the asset tapped $1.30.
However, the actual Upbit announcement on X went live hours later – after 03:00 UTC on August 10. Trading against BTC and USDT began at 14:00 KST (or 05:00 UTC), which raised some eyebrows on Crypto X about potential insider trading.
Nevertheless, the pump-and-dump move is a reality, and the token behind the decentralized infrastructure project building ‘ComputeFi’ is among the most volatile assets today in a rather calm market.
Upbit listings have a long history of impacting the underlying token with immediate gains and subsequent retracements. We reported one such example in early May when the exchange listed B3 – the native token of a layer-3 blockchain network built on Base, and its price skyrocketed by triple digits to $0.0021 at the time.
A quick look at CoinGecko shows that it is trading roughly 80% below that local peak, currently struggling below $0.00045.
The post Cysic (CYS) Skyrockets to New All-Time High on Upbit Listing: Details appeared first on CryptoPotato.
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Cysic (CYS) Skyrockets to New All-Time High on Upbit Listing: Details
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