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Cyber Crypto Jumps 200 Percent After Upbit Listing

Cyber crypto took the market by storm today, rocketing from one dollar eighty-five to five dollars thirty-three in a single day. That is close to a two hundred percent surge, sparked by its debut on South Korea’s biggest crypto exchange, Upbit. The listing instantly gave the token exposure to more than eight million users.

The rally also brought fresh attention to an earlier development that many traders had overlooked. On July seventeenth, Enlightify Inc., a publicly traded company, announced plans to invest up to twenty million dollars in Cyber over the next year. The company is using a dollar cost averaging approach and intends to hold the tokens as a long-term asset. It was the first time Cyber had received such a strong vote of confidence from an institutional investor.

Back when the announcement was first made, the price barely moved—climbing just over two percent. But today, with the Upbit listing in play, investors are making the connection between the new exchange exposure and the institutional backing. The price has now broken past the long-standing two-dollar resistance and nearly touched the December high of five dollars eighty.

Even so, technical signals suggest caution. The Relative Strength Index shows the market is overheated, meaning a short-term pullback could be on the horizon.

Also Read: Crypto Surge

Conclusion

Today’s rally was driven by the perfect storm of a high-profile exchange listing and the reminder of significant institutional interest. While the excitement may cool in the short term, the combination of market visibility and serious investor backing could set Cyber up for a stronger long-term position in the crypto space.

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