The reason for the sudden surge in STG
STG surged 80% in two hours. South Korea's largest exchange Upbit announced at about 3:30 pm yesterday that it would open STG trading at about 4 pm, support spot trading pairs for Korean won, and only accept deposits from the Ethereum network.
As soon as the news came out, Binance spot market data showed that $STG jumped, soaring from about $0.4813 to a high of $0.8687, soaring more than 80% in less than two hours, setting a new high in two months.
It has fallen back at the moment, rising 45.82% in the past 24 hours. The market value exceeded $146 million, ranking 373rd in the cryptocurrency market value ranking.
If you want to count the countries that "love to speculate in coins", South Korea is definitely among the top. Therefore, in the past, as long as there were tokens listed on major Korean exchanges such as Upbit and Bithumb, the trading volume of the currency would rise rapidly, and the token would also show an amazing rise. But investors should also be reminded to pay attention to potential violent fluctuations.
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