Key Highlights
- Superform surged up to about 80% after being listed on Upbit, briefly hitting $0.29 before dropping to $0.21.
- Trading volume exploded by about 2021%, reaching nearly $130 million, showing heavy market activity.
- Market cap jumped about 80% to $43 million, pushing the token to around rank 438 globally.
Superform (UP) saw a strong price jump today after South Korean exchange Upbit announced support for the token.
Shortly after the listing announcement, UP climbed nearly 80% and later almost doubled within 24 hours. The token reached around $0.2448 and at one point went as high as $0.29 during trading before dropping briefly. At the time of reporting, the token was trading for $0.2195, now 65% up.
Trading activity also surged, with 24-hour volume rising about 2,021% to nearly $130 million. Market capitalization increased roughly 80% to about $43 million, placing the token around 438th by market value.
In its announcement on X, Upbit said trading would start by 11:30 AM UTC, and would be available in three markets: Korean won (KRW), Bitcoin (BTC), and Tether (USDT).
Trading activity of different exchanges
The token is actively trading in the Spot trading market, recording different volumes across different exchanges. Upbit is currently experiencing the most trading activity with about $156 million in volume within the last 24 hours.
The token is also active on Gate exchange with about $13 million in active trading, while Coinbase records over $5 million in volume. Superform is also listed on Bithumb, Kraken, Uniswap, MEXC, and KuCoin. It is important to note that the token is not yet available for perpetual trading.
The listing on Upbit added more liquidity to the platform’s token, spiking its volatility and pushing the price up strongly during the listing period.
What is Superform
Superform describes itself as a simple system built to help users grow their money across crypto and cash assets. It is designed around the idea of earning better returns with less effort. The platform promotes the idea of “grow your wealth, effortlessly,” allowing users to save, swap, send, and earn returns in one place.
The platform works as a yield optimization tool. It searches across different DeFi protocols to find the best available returns and moves user funds automatically.
Superform says rather than requiring users to manually check rates or move assets between platforms, it automatically allocates them using smart routing systems. It also says it increases returns on assets like dollars, Bitcoin, and Ethereum by constantly changing where the funds are allocated.
Yield comparison and returns
According to its website, the Superform claims to have higher yield potential compared to traditional options, like 15.25% APY in some cases, compared to lower figures such as 0.50% from banks, 3.66% from Aave, and 3.50% from 2-year treasuries.
In addition, the platform reported that it has strong security, stating it is audited by experts and has secured over $130 million in deposits.
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