Upbit listing effect has diminished, analyst says

The price surge that typically follows a new token listing on the South Korean exchange Upbit has weakened, according to on-chain analyst ai_9684xtpa. The analyst noted that Upbit has listed seven new cryptocurrencies so far this month. As a result of this high frequency, newly added tokens are no longer seeing the sustained price rallies that were common in the past. The analyst added that some market observers believe even experienced South Korean traders are finding it difficult to keep up with the constant stream of new listings.