May 7 Delisting Loom Network (LOOM), Upbit's Kimchi Premium Nears 120%

Son Min

Summary

It was reported that Loom Network (LOOM) is trading at a price more than 120% higher than the global market price on Upbit.
The 'delisting beam' phenomenon, where prices temporarily rise, is analyzed to have occurred ahead of the delisting on May 7.
It was stated that there is a risk of significant loss when investing in assets with large price discrepancies from the global market.

On the South Korean cryptocurrency exchange Upbit, the price of Loom Network (LOOM) is reported to be more than 120% higher than the global market price.

On the 18th (local time), Loom Network on Upbit's KRW market is trading at 46.52 KRW, up 3.42% from the previous day. This is significantly higher than the global KRW price of Loom Network, which is 21 KRW according to CoinMarketCap. The highest point recorded was 57 KRW.

This is interpreted as a 'delisting beam' phenomenon occurring ahead of its delisting on May 7. Loom Network is set to be delisted on May 7.

Investors are advised to exercise caution with this asset due to the large price discrepancy with the global market and the potential for significant losses if investing based on phenomena like the 'delisting beam'.

LOOM