Upbit, South Korea’s largest cryptocurrency exchange, has decided to list SPACE ID, Binance’s 30th launchpad project. Following this announcement, the price of ID recorded a significant increase of more than 25%.
Upbit announced that it will add the local asset ID of Binance’s launchpad project, SPACE ID, with a Bitcoin (BTC) pairing. The announcement stated that only deposits made through Ethereum will be accepted for ID, and deposits made through other networks such as Binance Smart Chain (BSC) will not be supported.
After the listing announcement, the price of SPACE ID increased by 25% and reached $0.35. Along with the price, the trading volume of the altcoin also increased. The 24-hour trading volume of ID reached $148.19 million, an increase of over 500%. According to data provided by CoinMarketCap, ID traded at $0.3227 in the past 24 hours, showing a 22.56% increase.
Binance announced SPACE ID as its 30th launchpad project in March of this year and added it to the list of listed altcoins after the participation process was completed.
With the increasing number of Web3 users, the issue of decentralized identity has become an increasingly important area for Web3. SPACE ID offers a multi-chain blockchain naming service that allows users to register domain names with extensions such as .arb, .bnb, and .eth. The platform provides a comprehensive Web3 identity solution in one place for discovering, registering, trading, and managing Web3 domain names.