Doodles Token Hits Record High After Korean Debut
DOOD, the native token of the Doodles NFT assortment, hit a brand new all-time excessive on Tuesday, Oct. 7, after South Korean crypto alternate Upbit introduced it might checklist the token.
In an X put up on Oct. 7, Upbit mentioned DOOD can be accessible for buying and selling paired with Korean received (KRW) and Tether’s USDT.
DOOD Chart
Shortly after the announcement, DOOD soared by over 110% to a brand new all-time excessive of $0.01753; nevertheless, the token shortly retraced, down 36% as of press time, in line with CoinGecko.
The itemizing pushed Upbit to the highest spot for DOOD buying and selling, accounting for over 66% of worldwide quantity with roughly $190 million traded within the DOOD/KRW pair that day, surpassing Bybit and Gate’s USDT-based DOOD volumes, CoinGecko reveals.
NFT metrics for the gathering additionally spiked amid the itemizing information. Information from NFTPriceFloor reveals that Doodles’ buying and selling quantity jumped 218% on the day, with gross sales up greater than 190%.
Doodles launched the DOOD token in Might as a part of an effort to broaden its ecosystem past NFTs and introduce broader group participation. Based on the undertaking’s tokenomics, 30% of the availability was airdropped to current Doodles holders, whereas 13% was reserved for “New Blood,” a program designed to draw new customers.
One other 25% went to the Ecosystem Fund to finance collaborations and improvement inside the Doodles universe. The group acquired 17%, and Doodles Inc. retained 5%, each topic to a one-year lock and three-year vesting interval. The remaining 10% was allotted to liquidity provision.
In mid-September, The Defiant reported that South Korea’s greatest web firm, Naver, is in superior talks to amass Dunamu Inc., the operator of Upbit, by way of a stock-swap deal. The transfer would place Dunamu below Naver’s monetary companies division.
Naver is South Korea’s largest web platform, with over 30 million customers of its cell fee service Naver Pay and annual income exceeding 11 trillion received (round $8 billion).
