God Candle Forms on $SAFE Chart Post Upbit Listing

Safe (SAFE) tokens just experienced an explosive surge, grabbing attention in the crypto world. After a remarkable “god candle” sent the price from $0.94 to $1.70, $SAFE now stands at $1.65. 

This marks a 115% increase since the lows in September. The market cap shot up to $805 million. Despite this rally, SAFE still trades 53.6% below its all-time high of $3.56, set back in April.

The Impact of Upbit Listing

The price spike coincided with soaring trading volume. Daily volume jumped by 425%, reaching over $114 million, up from just $4 million the morning of October 24. Such activity signals a growing interest among traders.

The key driver behind this surge was the token’s listing on Upbit, South Korea's largest cryptocurrency exchange, on October 24. Upbit introduced trading pairs for SAFE in Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). 

According to an analysis from the on-chain insights platform Spot On Chain, wallets buying $SAFE spiked after the Upbit listing. The top five first-time buyers scooped up 1.356 million SAFE tokens, valued at $2.24 million, across platforms like OKX, Bybit, and Uniswap. 

Momentum Fueled by Multichain Shift

Safe Wallet’s shift to a multichain environment also played a crucial role in this momentum. This change enhances usability across over 15 networks. Users can now enjoy a unified wallet experience with a consistent address across chains and gas-free transactions on major Layer 2 networks. 

Such improvements likely contributed to increased demand for $SAFE. The recent rally in SAFE underscores the power of strategic exchange listings and innovative wallet technologies. 

As interest grows, traders eagerly anticipate how far this token can climb. Will $SAFE reclaim past highs, or will this rally stall? Only time will reveal the answer, but the excitement remains high.