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â ïžđšToday Altcoins update âïžâïž
The altcoin Space ID (ID) witnessed an astonishing 80% surge in value within a few hours, captivating traders and analysts alike.
The community is watching Space ID developments closely with questions about the sustainability of this altcoinâs surge.
Why This Altcoinâs Price Skyrocketed
The remarkable uptick in price coincides with South Koreaâs largest crypto exchange, Upbit, announcing the introduction of the IDâs Korean won trading pair. IDâs value spike also highlighted DWF Labsâ role in the market.
According to SpotOnChain, the firm conducted major transactions with ID tokens. This includes withdrawing 3.62 million ID, worth around $1.73 million, from OKX. Then, it quickly deposited 2.45 million ID, around $1.12 million, to Binance via Amber Group. These network activities were traced back to an address labeled DWF Labs.
Space ID (ID) Price. Source: BeInCrypto
Moreover, SpotOnChain reported that Upbitâs address holds 97 million ID tokens, valued at $52 million. This makes Upbit the fifth-largest ID holder. Still, Upbitâs ID accumulation sparks market speculation due to DWF Labs and Upbitâs past impact on token volatility.
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