Space ID Crypto: Trader Moves 5 Mln ID To Binance As Price Soars 17%
The native token of the Space ID platform, ID, experienced a significant surge in price over the past 24 hours, attracting attention from the global crypto community. During this surge, a trader transferred 5 million ID tokens worth $3.1 million to Binance, a prominent cryptocurrency exchange.
The recent listing of ID on South Korean exchange UpBit seems to be fueling the price increase. The trader’s large transfer to Binance has generated further speculation and interest in the token among crypto enthusiasts.
A Closer Look Into The Report
According to data from SpotOnChain, wallet 0z1c7b48 moved 5 million ID tokens worth $3.1 million to Binance on February 9. These tokens were distributed through a Space ID Distributor contract sixteen days ago.
The trader appears to be an investor in the Space ID project, but it is unclear if the address is associated with the Amber Group, another investor in the project. Additionally, the address is unrelated to DWF Lab, despite receiving ID tokens from a wallet linked to DWF Lab.
This development has sparked immediate interest among traders and investors, leading to a 15% price increase for the ID token in the past day.
ID Price Soars
As of now, the ID token has surged by 17.82% in the last 24 hours and is currently trading at $0.06048. It has experienced remarkable weekly and monthly increases of 114.30% and 122.93%, respectively. The market cap of the token has also risen by 17.60%, reaching $282.49 million.
This recent surge in ID’s price is likely due to the listing announcement on Upbit, which has garnered significant attention within the broader crypto market.
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