Filecoin's Token Sees a Surge as Upbit Lists Trading

Key Takeaways:

Filecoin’s FIL token experienced a 30% increase after being listed on South Korean exchange Upbit.
Tokens listed on South Korean exchanges often trade at a premium compared to international prices.

Details:

Filecoin’s FIL token surged by 30% following its listing on Upbit, reaching a peak of $3.49, rising from $2.71. The current trading rate is about $3.00 with a daily trading volume reported at $303 million, as per CoinMarketCap.

Upbit announced in a tweet that the FIL/KRW trading pair became available at 07:30 UTC. This listing highlights a common trend where tokens on South Korean exchanges are priced higher due to stringent financial regulations, making capital movement difficult and reducing arbitrage opportunities.