Investors witnessed the value of Centrifuge's CFG token skyrocket by over 180% following the announcement of its listing on Upbit, South Korea's leading cryptocurrency exchange. The surge was attributed to investor enthusiasm around the listing, with trading slated to start on February 26, 2026. Centrifuge, a platform for tokenizing real-world assets, saw its token trade above key 50-day and 100-day moving averages, signaling bullish sentiment. However, technical indicators such as the Relative Strength Index (RSI) suggested an overbought condition, prompting caution among traders.
The initial price spike was partly tempered as some traders engaged in profit-taking, with on-chain data revealing significant whale accumulation and a surge in trading volumes coinciding with the Upbit listing. The exchange added trading pairs for CFG against the Korean won, bitcoin, and a major stablecoin. Upbit's influence in the market is known to induce considerable price movements for new token listings, which was evident in the immediate market response to the CFG listing. Despite the impressive price action, market analysts urge investors to remain vigilant due to the volatile nature of newly listed crypto assets and mixed technical signals.
