The Magazine for Asian Investors
The Kub Coin issued by Bitkub is seeing great interest at the moment due to its rapid decline recently.
Earlier on November 29, the price of KUB Coin reached a new all-time high of ฿500, an increase of more than 500% because of the news of the collaboration with The Mall to set up Bitkub M.
On Nov. 30, however, the Kub Coin fell sharply back to ฿140 after news broke that the Bitkub Platform plans to issue new coins. Investors sold many coins in fear that the number of coins would increase sharply and debase the value of the coins in circulation. In addition, the coin was recently heavily oversold.
The current price is moving at 227 baht at 1.00 p.m. ET.
The millions of newly created coins are expected to be gradually released and enter circulation in early December. Investors should keep an eye on the coming price movements as they could become very volatile.