Key facts
- Upbit is listing nine altcoins on June 19.
- PEAQ, LIT, and LDO are among the newly listed altcoins.
- Traders are watching for the 'Upbit Effect'.
- The 'Upbit Effect' is known for causing rallies in newly listed tokens.
- The listings occur amid broader market volatility.
South Korean cryptocurrency exchange Upbit is set to list nine new altcoins on June 19, a development that has captured the attention of traders. Among the newly listed tokens are PEAQ, LIT, and LDO. The primary focus for many in the market is the potential for the 'Upbit Effect' to take hold. This effect is a well-observed market phenomenon where cryptocurrencies that are newly listed on Upbit often experience substantial price increases shortly after their debut on the platform. Traders are now observing whether this effect will manifest for the nine new listings, especially considering the current backdrop of broader market volatility. The anticipation surrounds the possibility of significant trading volume and price appreciation for these altcoins as they become available on one of South Korea's largest exchanges.