ARKM Token Rises 55% After Upbit Adds It, Despite General Market Drop
- ARKMs Price Surge and Market Response: ARKM surged by 55% after its listing on South Koreas Upbit exchange
- Whale activity around ARKM has increased, with large holders accumulating between 10,000 and 10 million tokens, signaling long-term confidence.
ARKM surged up to 55% after getting listed on South Koreas Upbit. However, the price dropped sharply, giving up most of its increase within a few hours.
With the current decline in the cryptocurrency market, virtually all cryptocurrency are affected both Bitcoin and other popular altcoins. Bitcoin fell to around $76K, while Ether, XRP, Solana, DOGE, and ADA also saw significant losses. However, a few tokens like ARKM and RAD has managed to rise in value despite this downturn.
ARKM Surges After Upbit Listing News
On March 11, Upbit Korea shared a post on X that it had listed the altcoin in its USD market. Trading of the asset started at 16:00 KST on Tuesday, marking its official launch on the platform.
Arkhams ARKM token saw a huge rise, jumping from $0.47 to $0.70 in just 10 minutes after the announcement of the listing, and it briefly pushed its market cap above $220 million and trading volume skyrocketed by 473%, showing strong investor interest. As of time of writing, the token is trading at 0.5360.
Source: Coinmarketcap
While many assets struggles in a bearish market, this token stood out with profitable gains. Community sentiment remains positive despite the overall market downturn.
Arkham Intelligence, a blockchain analytics platform, thas has introduced a new tool that hrlps tracks the wallets of X users with over 100,000 followers, labeling them as Key Opinion Leaders (KOLs).
This feature allows users to monitor transactions from influential figures in the crypto space. Arkham is also known for reporting large movements of funds by major playersin the space, and this update expands its tracking capabilities. Another factor driving interest in ARKM, is the recently launched platforms native token, is its recent listing on Upbit, one of the largest crypto exchanges.
The token is used for trading fee discounts, rewards, and governance within the ecosystem. Additionally, Arkhams expansion into China has now increased its demand, as more traders in the region gain access. Meanwhile, whale activity around ARKM has risen, with data showing a growing number of large holders accumulating between 10,000 and 10 million tokens, indicating confidence in the token in the token in the long-term run.
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Read more: https://www.tronweekly.com/arkm-token-rises-55-after-upbit-adds-it-despite-general-market-drop/
Text source: TronWeekly
