Recently, the listing pace of Upbit exchange has明显加快, but the market response seems to be less enthusiastic than before. In just the first 11 days of September, Upbit added 7 spot trading pairs, including PUMP, HOLO, OPEN, WLD, FLOCK, RED, and WLFI, with an average of one new Token being launched every 1.57 days.

However, this high-frequency listing strategy seems to be starting to affect the market's reaction. In the past, the launch of new coins usually triggered a sustained upward trend, but this trend is now changing. After the latest few listing announcements, the price trends of the related tokens often only experience a brief surge before dropping back, forming a distinct upper shadow.

This phenomenon reflects that the South Korean cryptocurrency market may be undergoing some changes. The frequent launch of new tokens could lead to investors' attention being diverted, making it difficult to concentrate funds and enthusiasm on a single project. At the same time, this may also indicate that market participants' novelty effect towards newly listed tokens is weakening, becoming more rational and cautious.

For Upbit, this strategy may need to be adjusted. While frequently listing coins can bring more trading volume and fee income to the exchange, if it fails to continuously spark market interest, it may impact the exchange's attractiveness and competitiveness in the long run.

For investors, the changes in market reactions remind us to approach new coin opportunities with more caution, rather than blindly chasing prices. It is essential to focus more on the project's fundamentals and long-term development potential. In this rapidly changing cryptocurrency market, staying clear-headed and rational is more important than ever.