BLEND (Fluent) 24-hour fluctuation 52.2%: Soared after listings on exchanges such as Upbit, followed by a slight pullback

Volatility Brief

In the past 24 hours, the price of BLEND rebounded from a low of $0.125 to a high of $0.19028, currently quoted at $0.13016, with a price swing reaching 52.2%. 24-hour trading volume surged to approximately $120.6 million, a significant increase compared to before, with markedly enhanced liquidity.

Brief Analysis of the Cause of the Unusual Movement

- Upbit Listing: Within the past 24 hours, Korean exchange Upbit launched the BLEND trading pair, directly causing the price to soar from $0.09004 to $0.25624, with a swing as high as 184.6%, and trading volume spiking over 1000%.

- Multiple Exchanges Followed: Platforms such as Kraken launched BLEND simultaneously, further amplifying liquidity and buying pressure, pushing the 24-hour price increase to over 150% at one point.

- Bithumb Added KRW Trading Pair: Enhanced access for the Korean market, boosting regional capital inflows.

Market View and Outlook

The mainstream market sentiment has shifted to cautious optimism. After the Upbit listing, the price once touched $0.23-0.24, but with a decline in TVL and increased borrowing, it recently pulled back by 22% and is now consolidating around $0.13. Analysts predict that if the listing effect continues, BLEND could challenge $0.40, but caution is advised regarding the risk of declining TVL and profit-taking.