Data: After new coins are listed on Upbit, the price of Bitcoin usually drops

ChainCatcher news, according to statistics from the Korean community minchoisfuture, Upbit's Bitcoin price changes after listing new coins have been analyzed in a total of 16 recent listings. It was found that within 24 hours after Upbit lists a new coin, there is a tendency for the Bitcoin price to decline.

It is reported that there is a popular term in the Korean community "석우절" (Seok Woo Day, Seok Woo is the chairman of Upbit), which means that whenever Upbit lists a new coin, the market will drop.