FLOCK Price Surge After Upbit, Bitthumb Listing: Is Binance Next?

FLOCK Price Surges After Upbit, Bitthumb Listing by More Than 100%

FLOCK has been the talk of the town in the crypto space this week. The token jumped more than 100% within 24 hours after the listing on two major Korean exchanges, Upbit and Bithumb, on June 1. Right after that, trading volume skyrocketed by over 433%, reaching around $219 million within a single day. The currency is now trading at $0.2800 with an increase of 85.23% in a day as per the CoinMarketCap. 

Source: CoinMarketCap

That kind of price move caught everyone’s attention, and now people are starting to wonder what could be next for FLOCK. 

Why Is FLOCK Pumping?

The major reason for this sudden spike is the listing. When FLOCK got listed on Upbit and Bithumb, two of the most popular crypto exchanges of South Korea. When a new token appears on these exchanges, it generally experiences a huge wave of interest from retail investors. 

And that’s exactly what happened here. Right after the listings, a flood of Korean traders jumped in, pushing the price up and driving volume through the roof.

It wasn’t really about the tech or the AI buzz this time. The excitement mostly came from the fact that the token became easier to access for thousands of new traders in South Korea. That fresh exposure gave it a strong push.

Could Binance Be the Next Big Move?

Now, a lot of people in the FLOCK community are starting to talk about the possibility of a Binance listing. Nothing is confirmed yet, but there’s some hope. Binance Alpha has been getting so many new projects onboard, it features new and trending tokens, and this new token seems like an appropriate project that could fit there.

If this token gets listed on the Binance platform, it might push the price even higher. Binance listing gets a huge amount of new investors globally. The expectation is that this could cause yet another wave of purchasing pressure, potentially pushing the price to new highs.

This rumor is one explanation for the fact that many investors have not yet dumped their FLOCK tokens, anticipating the next step. A few of the early investors are already enjoying high returns, and others are leaping in hoping they are not too late for the pump.

Watch Out for a Pull Back

Whilst FLOCK’s price rise has gotten many interested, it is still important to consider some risks. After this price rally, it could go downwards again if traders’ interest fade and choose to take their profits. 

Once the big hype fades, retail traders tend to sell fast and this can decrease the price. Because of this, some experts believe that a drop could take place if the token slows down or fails to release fresh updates in the near future.

What’s Next? 

After FLOCK started trading in Korea, many users have supported the project because of its AI centered framework. The event of increased trading activity and speculations about listing on Binance, the currency is getting a lot of traction from the crypto community.

Even so, traders ought to be careful. The main reason behind the current interest is mostly down to hype and speculation. Having Binance list a project is certainly a positive, unless it’s confirmed, investors are recommended to carefully watch the market.