CYBER token open interest hits $200 million as Korean traders pump CyberConnect price

• CyberConnect price is up 740% in the last week and 230% in the last 24 hours on Upbit exchange against BTC.
• The current open interest for CYBER is $200.69 million, with up to $4.6 million in short positions liquidated.
• The surge is to Korean traders, which points to an impending fall as is characteristic of pump and dump activities.

CyberConnect (CYBER) price has recorded a remarkable rally over the past week, outperforming even the crypto top-10 like Bitcoin (BTC) and Ethereum (ETH). A closer look at the uptick indicates that it is the works of Korean traders, notoriously famous for pumping and dumping.

Korean traders pump CYBER token

CyberConnect token price is up close to 740% in the last week and almost 230% against Bitcoin (CYBER/BTC). Interestingly, however, the value of the token is lower on Binance at around $9.7 and other exchanges in the US but higher on Upbit, recording almost $15.0 against the Dollar (USD) at press time.

#PeckShieldAlert $Cyber #Upbit #bithumb pic.twitter.com/xeBqsMtfCa

— PeckShieldAlert (@PeckShieldAlert) September 1, 2023

Upbit is a South Korean cryptocurrency exchange and the largest in the South Asian region in terms of trading volume.

The surge aligns with up to $200.69 million in open interest, showing the expansive CYBER contracts that remain open.

CyberConnect open interest

Source

Join our Telegram Channel https://t.me/elevenews